Elkhorn Investments LLC lessened its holdings in shares of Danaher Co. (NYSE:DHR) by 7.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,483 shares of the conglomerate’s stock after selling 1,272 shares during the period. Elkhorn Investments LLC’s holdings in Danaher were worth $1,254,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Honeywell International Inc. grew its stake in Danaher by 113.4% during the 3rd quarter. Honeywell International Inc. now owns 640,100 shares of the conglomerate’s stock worth $54,908,000 after buying an additional 340,100 shares during the last quarter. Progressive Investment Management Corp grew its stake in Danaher by 5.9% during the 4th quarter. Progressive Investment Management Corp now owns 37,108 shares of the conglomerate’s stock worth $3,444,000 after buying an additional 2,074 shares during the last quarter. Prudential Financial Inc. grew its stake in Danaher by 5.2% during the 3rd quarter. Prudential Financial Inc. now owns 2,628,584 shares of the conglomerate’s stock worth $225,480,000 after buying an additional 130,621 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Danaher by 276.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,626,865 shares of the conglomerate’s stock worth $225,332,000 after buying an additional 1,929,751 shares during the last quarter. Finally, Iberiabank Corp purchased a new position in Danaher during the 3rd quarter worth approximately $381,000. 77.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Danaher Co. (DHR) traded up $0.44 during mid-day trading on Wednesday, hitting $103.24. The company’s stock had a trading volume of 70,105 shares, compared to its average volume of 2,631,587. Danaher Co. has a one year low of $78.97 and a one year high of $104.82. The stock has a market cap of $72,128.68, a P/E ratio of 29.24, a P/E/G ratio of 2.17 and a beta of 1.03. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.39.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Thursday, March 29th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Danaher’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. Danaher’s payout ratio is 15.86%.
In related news, CFO Daniel L. Comas sold 62,989 shares of Danaher stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $101.96, for a total value of $6,422,358.44. Following the sale, the chief financial officer now directly owns 227,805 shares in the company, valued at $23,226,997.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William K. Daniel sold 131,066 shares of Danaher stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $102.05, for a total value of $13,375,285.30. Following the completion of the sale, the executive vice president now owns 270,523 shares in the company, valued at $27,606,872.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,260 shares of company stock worth $31,657,786. Company insiders own 12.20% of the company’s stock.
A number of research analysts recently issued reports on the company. Credit Suisse Group raised their price target on Danaher from $106.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stifel Nicolaus raised their price target on Danaher from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research downgraded Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Robert W. Baird restated a “buy” rating on shares of Danaher in a research note on Friday, January 12th. Finally, UBS Group assumed coverage on Danaher in a research note on Monday, January 22nd. They set a “buy” rating and a $99.97 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $101.40.
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Danaher Company Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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