National Pension Service Grows Position in Danaher Co. (DHR)
National Pension Service lifted its position in shares of Danaher Co. (NYSE:DHR) by 5.1% during the 4th quarter, HoldingsChannel reports. The firm owned 533,722 shares of the conglomerate’s stock after acquiring an additional 25,690 shares during the period. National Pension Service’s holdings in Danaher were worth $49,540,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHR. Point72 Asset Management L.P. boosted its position in shares of Danaher by 276.8% during the third quarter. Point72 Asset Management L.P. now owns 2,626,865 shares of the conglomerate’s stock valued at $225,332,000 after purchasing an additional 1,929,751 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Danaher by 16,410.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,485,901 shares of the conglomerate’s stock valued at $125,395,000 after buying an additional 1,476,901 shares during the last quarter. Findlay Park Partners LLP raised its stake in Danaher by 52.9% during the third quarter. Findlay Park Partners LLP now owns 4,117,348 shares of the conglomerate’s stock valued at $353,186,000 after buying an additional 1,425,000 shares during the last quarter. Koch Industries Inc. raised its stake in Danaher by 29,127.3% during the second quarter. Koch Industries Inc. now owns 1,404,665 shares of the conglomerate’s stock valued at $1,388,000 after buying an additional 1,399,859 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Danaher by 86.1% during the third quarter. JPMorgan Chase & Co. now owns 3,011,947 shares of the conglomerate’s stock valued at $256,136,000 after buying an additional 1,393,165 shares during the last quarter. Institutional investors own 76.11% of the company’s stock.
In other news, Director Donald J. Ehrlich sold 10,578 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $90.82, for a total value of $960,693.96. Following the completion of the transaction, the director now owns 104,621 shares in the company, valued at $9,501,679.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Daniel Raskas sold 37,870 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $93.33, for a total value of $3,534,407.10. The disclosure for this sale can be found here. Insiders sold 273,810 shares of company stock valued at $25,218,813 in the last 90 days. Company insiders own 12.20% of the company’s stock.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.05. Danaher had a return on equity of 11.29% and a net margin of 13.36%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. research analysts expect that Danaher Co. will post 3.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, December 28th. Danaher’s dividend payout ratio is currently 16.67%.
A number of research analysts have issued reports on DHR shares. Credit Suisse Group reiterated a “hold” rating and set a $99.00 price objective on shares of Danaher in a research note on Tuesday, December 19th. Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Thursday, October 5th. Robert W. Baird reiterated a “buy” rating and set a $99.00 price objective on shares of Danaher in a research note on Friday, December 15th. Morgan Stanley reiterated an “overweight” rating and set a $95.00 price objective (up previously from $86.00) on shares of Danaher in a research note on Friday, October 6th. Finally, Cowen reiterated a “buy” rating and set a $90.00 price objective on shares of Danaher in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Danaher has an average rating of “Buy” and an average price target of $94.91.
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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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