M&T Bank Corp Sells 13,538 Shares of Danaher Corporation $DHR

M&T Bank Corp trimmed its position in shares of Danaher Corporation (NYSE:DHR) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 432,783 shares of the conglomerate’s stock after selling 13,538 shares during the quarter. M&T Bank Corp owned about 0.06% of Danaher worth $85,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Danaher during the 2nd quarter worth approximately $1,979,503,000. Viking Global Investors LP boosted its stake in Danaher by 543.9% in the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock valued at $574,351,000 after acquiring an additional 2,455,994 shares in the last quarter. Generation Investment Management LLP grew its holdings in Danaher by 34.0% in the third quarter. Generation Investment Management LLP now owns 6,654,666 shares of the conglomerate’s stock worth $1,319,354,000 after purchasing an additional 1,689,020 shares during the last quarter. Primecap Management Co. CA grew its holdings in Danaher by 924.2% in the second quarter. Primecap Management Co. CA now owns 1,239,320 shares of the conglomerate’s stock worth $244,815,000 after purchasing an additional 1,118,318 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Danaher by 33.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,519,013 shares of the conglomerate’s stock worth $697,680,000 after purchasing an additional 891,210 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Cowen reissued a “buy” rating on shares of Danaher in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their target price on Danaher from $270.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Robert W. Baird set a $251.00 price target on Danaher in a report on Thursday, January 29th. Weiss Ratings restated a “hold (c)” rating on shares of Danaher in a research note on Monday, December 29th. Finally, KeyCorp restated an “overweight” rating on shares of Danaher in a report on Thursday, January 29th. Nineteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

Danaher Price Performance

NYSE DHR opened at $187.34 on Friday. The company has a market cap of $132.47 billion, a price-to-earnings ratio of 37.17, a PEG ratio of 2.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.51. The stock’s fifty day moving average price is $218.79 and its 200 day moving average price is $215.34. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $242.80.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.09. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.14 EPS. As a group, equities research analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, March 27th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Danaher’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, March 27th. Danaher’s dividend payout ratio is presently 25.40%.

Insider Buying and Selling

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the transaction, the executive vice president owned 5,099 shares in the company, valued at approximately $1,060,642.99. This represents a 20.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is currently 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.