KCM Investment Advisors LLC Reduces Stake in Danaher Corporation $DHR

KCM Investment Advisors LLC lessened its stake in shares of Danaher Corporation (NYSE:DHR) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,267 shares of the conglomerate’s stock after selling 3,072 shares during the quarter. KCM Investment Advisors LLC’s holdings in Danaher were worth $12,375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its holdings in Danaher by 1.7% during the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock worth $6,345,529,000 after acquiring an additional 472,608 shares during the period. Capital International Investors lifted its stake in Danaher by 8.9% in the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock worth $4,177,386,000 after purchasing an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Danaher by 9.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate’s stock valued at $3,656,595,000 after purchasing an additional 1,334,221 shares during the period. Wellington Management Group LLP grew its position in shares of Danaher by 11.2% during the 4th quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock valued at $3,451,380,000 after purchasing an additional 1,517,904 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Danaher during the 4th quarter valued at $2,177,106,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. TD Cowen lowered their price objective on Danaher from $240.00 to $236.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Piper Sandler initiated coverage on Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 target price for the company. HSBC decreased their target price on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, June 3rd. Wells Fargo & Company dropped their price target on Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn set a $205.00 price objective on Danaher in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $228.91.

Danaher Stock Performance

Danaher stock opened at $196.57 on Tuesday. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The stock has a market cap of $138.19 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.38 and a beta of 0.79. The firm’s fifty day moving average price is $186.29 and its 200-day moving average price is $196.48.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, July 21st. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.09. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, June 26th. Danaher’s dividend payout ratio is presently 28.42%.

Danaher Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.