Manitou Investment Management Ltd. Sells 12,572 Shares of Danaher Corporation $DHR

Manitou Investment Management Ltd. decreased its position in shares of Danaher Corporation (NYSE:DHR) by 68.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,785 shares of the conglomerate’s stock after selling 12,572 shares during the quarter. Danaher accounts for 0.2% of Manitou Investment Management Ltd.’s portfolio, making the stock its 19th largest position. Manitou Investment Management Ltd.’s holdings in Danaher were worth $1,147,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Danaher during the 2nd quarter valued at $1,979,503,000. Viking Global Investors LP boosted its position in shares of Danaher by 543.9% during the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock valued at $574,351,000 after buying an additional 2,455,994 shares during the last quarter. Generation Investment Management LLP boosted its position in shares of Danaher by 56.2% during the second quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock valued at $980,914,000 after buying an additional 1,787,522 shares during the last quarter. Primecap Management Co. CA increased its holdings in Danaher by 924.2% in the 2nd quarter. Primecap Management Co. CA now owns 1,239,320 shares of the conglomerate’s stock worth $244,815,000 after buying an additional 1,118,318 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in Danaher by 290.6% in the 1st quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock worth $295,550,000 after buying an additional 1,072,617 shares during the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Trading Down 0.4%

Shares of DHR stock opened at $230.52 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.52 and a quick ratio of 1.10. The company has a market cap of $162.83 billion, a price-to-earnings ratio of 47.53, a PEG ratio of 4.45 and a beta of 0.89. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $258.23. The firm has a fifty day moving average price of $222.66 and a 200-day moving average price of $208.19.

Danaher (NYSE:DHR) last released its earnings results on Monday, October 20th. The conglomerate reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the previous year, the business earned $1.71 earnings per share. Danaher’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, December 26th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, December 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. Danaher’s payout ratio is 26.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DHR shares. The Goldman Sachs Group started coverage on shares of Danaher in a report on Tuesday, December 9th. They set a “buy” rating and a $265.00 price target on the stock. Barclays raised their target price on shares of Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Redburn Partners set a $220.00 target price on shares of Danaher in a research note on Wednesday, October 8th. Robert W. Baird set a $247.00 price target on Danaher in a research note on Wednesday, October 22nd. Finally, Evercore ISI lifted their price objective on Danaher from $226.00 to $245.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Twenty-one analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $248.25.

Insider Buying and Selling

In other news, Director Teri List sold 3,298 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $226.50, for a total value of $746,997.00. Following the sale, the director owned 20,762 shares of the company’s stock, valued at approximately $4,702,593. This represents a 13.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Georgeann Couchara sold 5,174 shares of Danaher stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $210.42, for a total transaction of $1,088,713.08. Following the transaction, the senior vice president directly owned 2,625 shares of the company’s stock, valued at approximately $552,352.50. This represents a 66.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,248 shares of company stock valued at $6,609,663. 11.10% of the stock is owned by corporate insiders.

About Danaher

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.