Pinnacle Financial Partners Inc. Decreases Stake in Danaher Co. (DHR)
Pinnacle Financial Partners Inc. lowered its position in Danaher Co. (NYSE:DHR) by 5.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,463 shares of the conglomerate’s stock after selling 1,545 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Danaher were worth $2,550,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. ETRADE Capital Management LLC grew its stake in shares of Danaher by 5.1% in the 2nd quarter. ETRADE Capital Management LLC now owns 19,075 shares of the conglomerate’s stock worth $1,610,000 after buying an additional 917 shares during the last quarter. Roundview Capital LLC grew its stake in shares of Danaher by 2.0% in the 2nd quarter. Roundview Capital LLC now owns 25,674 shares of the conglomerate’s stock worth $2,167,000 after buying an additional 502 shares during the last quarter. Honeywell International Inc. grew its stake in shares of Danaher by 113.4% in 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. Veritable L.P. grew its stake in shares of Danaher by 28.2% in the 2nd quarter. Veritable L.P. now owns 40,486 shares of the conglomerate’s stock worth $3,417,000 after buying an additional 8,912 shares during the last quarter. Finally, Wealthfront Inc. grew its stake in shares of Danaher by 10.2% in the 2nd quarter. Wealthfront Inc. now owns 14,574 shares of the conglomerate’s stock worth $1,230,000 after buying an additional 1,348 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
DHR has been the topic of several recent research reports. Credit Suisse Group restated a “hold” rating and issued a $99.00 price target on shares of Danaher in a research note on Tuesday, December 19th. Zacks Investment Research downgraded Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Robert W. Baird reiterated a “buy” rating on shares of Danaher in a research note on Friday, January 12th. Royal Bank of Canada reiterated a “hold” rating and set a $96.00 target price on shares of Danaher in a research note on Thursday, January 4th. Finally, Morgan Stanley increased their target price on Danaher from $95.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Danaher has an average rating of “Buy” and a consensus target price of $100.13.
Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, January 30th. The conglomerate reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.03. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Danaher had a return on equity of 11.36% and a net margin of 13.60%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. sell-side analysts predict that Danaher Co. will post 4.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, December 29th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.59%. Danaher’s payout ratio is 16.00%.
In other news, SVP Daniel Raskas sold 37,870 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $93.33, for a total transaction of $3,534,407.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William K. Daniel sold 131,066 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 270,523 shares in the company, valued at $27,606,872.15. The disclosure for this sale can be found here. Insiders have sold a total of 274,913 shares of company stock worth $27,729,293 over the last three months. Insiders own 12.20% of the company’s stock.
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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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