Danaher Corporation $DHR Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Danaher Corporation (NYSE:DHR) by 28.1% in the third quarter, Holdings Channel reports. The fund owned 6,047,764 shares of the conglomerate’s stock after selling 2,362,560 shares during the period. Bank of New York Mellon Corp’s holdings in Danaher were worth $1,199,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ceredex Value Advisors LLC increased its stake in Danaher by 1.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 249,377 shares of the conglomerate’s stock valued at $49,262,000 after buying an additional 3,862 shares during the period. Chicago Capital LLC lifted its stake in shares of Danaher by 11.6% in the 2nd quarter. Chicago Capital LLC now owns 13,332 shares of the conglomerate’s stock worth $2,634,000 after acquiring an additional 1,391 shares during the period. Weitz Investment Management Inc. boosted its holdings in shares of Danaher by 6.1% in the second quarter. Weitz Investment Management Inc. now owns 526,950 shares of the conglomerate’s stock valued at $104,094,000 after acquiring an additional 30,300 shares in the last quarter. Lockheed Martin Investment Management Co. increased its stake in shares of Danaher by 49.4% during the third quarter. Lockheed Martin Investment Management Co. now owns 25,340 shares of the conglomerate’s stock worth $5,024,000 after acquiring an additional 8,380 shares during the period. Finally, Nvwm LLC raised its holdings in Danaher by 20.4% during the second quarter. Nvwm LLC now owns 7,093 shares of the conglomerate’s stock worth $1,401,000 after purchasing an additional 1,204 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Down 0.2%

DHR opened at $236.18 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.10 and a current ratio of 1.52. The company has a market cap of $166.82 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 3.60 and a beta of 0.89. Danaher Corporation has a one year low of $171.00 and a one year high of $258.23. The business’s fifty day moving average is $230.80 and its two-hundred day moving average is $213.70.

Danaher Dividend Announcement

The firm 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 $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, December 26th. Danaher’s dividend payout ratio is presently 26.39%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DHR. Guggenheim lifted their price objective on Danaher from $250.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Danaher from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. TD Cowen reiterated a “buy” rating on shares of Danaher in a research report on Wednesday, January 7th. Robert W. Baird set a $247.00 target price on Danaher in a report on Wednesday, October 22nd. Finally, Barclays boosted their target price on shares of Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.09.

Insider Buying and Selling at Danaher

In other news, Director Teri List sold 3,298 shares of the stock in a transaction that occurred 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 directly owned 20,762 shares in the company, valued at $4,702,593. This represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Georgeann Couchara sold 5,174 shares of Danaher stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $210.42, for a total value of $1,088,713.08. Following the transaction, the senior vice president owned 2,625 shares of the company’s stock, valued at $552,352.50. This represents a 66.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,248 shares of company stock worth $6,609,663. 11.20% of the stock is owned by corporate insiders.

Danaher Company 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.