Bank of New York Mellon Corp Reduces Stake in Danaher Corporation $DHR

Bank of New York Mellon Corp lowered its position in Danaher Corporation (NYSE:DHR) by 19.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,828,208 shares of the conglomerate’s stock after selling 899,447 shares during the period. Bank of New York Mellon Corp owned about 0.54% of Danaher worth $725,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in shares of Danaher during the 3rd quarter valued at about $25,000. Elevated Capital Advisors LLC bought a new position in shares of Danaher in the 4th quarter worth approximately $26,000. WFA of San Diego LLC purchased a new position in shares of Danaher in the second quarter worth approximately $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of Danaher in the fourth quarter worth approximately $27,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in Danaher by 71.6% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock valued at $29,000 after buying an additional 53 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DHR has been the subject of a number of research reports. Guggenheim reduced their target price on shares of Danaher from $275.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Royal Bank Of Canada began coverage on shares of Danaher in a research note on Thursday, May 14th. They set an “outperform” rating and a $200.00 price target on the stock. Citigroup initiated coverage on shares of Danaher in a research report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price objective for the company. Wall Street Zen lowered Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Barclays lowered their target price on Danaher from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.64.

Danaher Stock Performance

DHR opened at $204.93 on Friday. The company has a 50 day simple moving average of $182.61 and a two-hundred day simple moving average of $198.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The firm has a market cap of $145.04 billion, a P/E ratio of 39.64, a PEG ratio of 2.47 and a beta of 0.79. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80.

Danaher (NYSE:DHR) last released its earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $6 billion. Danaher had a net margin of 14.89% and a return on equity of 10.91%. Danaher’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 EPS. Equities analysts forecast that Danaher Corporation will post 8.45 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Danaher’s dividend payout ratio (DPR) is currently 30.95%.

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.