Douglas Lane & Associates LLC Trims Stock Position in Danaher Co. (NYSE:DHR)

Douglas Lane & Associates LLC lessened its position in Danaher Co. (NYSE:DHR) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,726 shares of the conglomerate’s stock after selling 3,814 shares during the period. Danaher comprises 1.2% of Douglas Lane & Associates LLC’s portfolio, making the stock its 28th largest holding. Douglas Lane & Associates LLC’s holdings in Danaher were worth $88,612,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DHR. Tsfg LLC raised its position in shares of Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after buying an additional 88 shares during the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in Danaher during the second quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in Danaher during the second quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Danaher during the first quarter worth approximately $30,000. Finally, Richardson Financial Services Inc. acquired a new position in Danaher during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DHR shares. TD Cowen increased their price objective on shares of Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America increased their price objective on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group increased their price objective on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Stephens started coverage on shares of Danaher in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $315.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on shares of Danaher in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $280.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $282.12.

Danaher Stock Performance

Danaher stock traded up $3.88 during midday trading on Friday, reaching $270.33. 1,747,177 shares of the stock traded hands, compared to its average volume of 2,727,044. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $270.31 and a two-hundred day moving average price of $259.20. The firm has a market cap of $200.23 billion, a price-to-earnings ratio of 45.82, a PEG ratio of 4.49 and a beta of 0.83. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $281.70.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the previous year, the firm earned $2.05 EPS. Danaher’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Danaher Co. will post 7.59 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, September 27th. Danaher’s dividend payout ratio (DPR) is currently 18.31%.

Insider Transactions at Danaher

In related news, CEO Rainer Blair sold 9,007 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the transaction, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Danaher news, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the sale, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the transaction, the senior vice president now owns 4,212 shares of the company’s stock, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,659 shares of company stock valued at $11,042,433 over the last ninety days. Corporate insiders own 11.10% of the company’s stock.

Danaher Company Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.