Covington Capital Management increased its position in shares of Danaher Co. (NYSE:DHR) by 4.1% in the 4th quarter, HoldingsChannel reports. The firm owned 63,614 shares of the conglomerate’s stock after purchasing an additional 2,487 shares during the period. Covington Capital Management’s holdings in Danaher were worth $5,905,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in Danaher by 4.6% in the 4th quarter. BlackRock Inc. now owns 40,984,366 shares of the conglomerate’s stock valued at $3,804,169,000 after buying an additional 1,789,474 shares in the last quarter. Parnassus Investments CA grew its holdings in Danaher by 0.3% in the 3rd quarter. Parnassus Investments CA now owns 9,796,584 shares of the conglomerate’s stock valued at $840,351,000 after buying an additional 29,381 shares in the last quarter. Flossbach Von Storch AG grew its holdings in Danaher by 17.2% in the 3rd quarter. Flossbach Von Storch AG now owns 6,776,921 shares of the conglomerate’s stock valued at $581,324,000 after buying an additional 994,902 shares in the last quarter. Geode Capital Management LLC grew its holdings in Danaher by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,263,971 shares of the conglomerate’s stock valued at $580,150,000 after buying an additional 167,442 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Danaher by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,630,035 shares of the conglomerate’s stock valued at $397,144,000 after buying an additional 63,327 shares in the last quarter. Institutional investors own 77.83% of the company’s stock.
In related news, CFO Daniel L. Comas sold 62,989 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $101.96, for a total transaction of $6,422,358.44. Following the transaction, the chief financial officer now owns 227,805 shares of the company’s stock, valued at approximately $23,226,997.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Angela S. Lalor sold 42,988 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $102.29, for a total value of $4,397,242.52. Following the transaction, the senior vice president now directly owns 82,008 shares in the company, valued at approximately $8,388,598.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,260 shares of company stock worth $31,657,786. 12.20% of the stock is owned by corporate insiders.
Danaher (NYSE:DHR) last posted its earnings results on Tuesday, January 30th. The conglomerate reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.03. Danaher had a return on equity of 11.36% and a net margin of 13.60%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the company earned $1.05 EPS. Danaher’s revenue was up 10.9% on a year-over-year basis. analysts expect that Danaher Co. will post 4.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Thursday, March 29th will be paid a dividend of $0.16 per share. This is a positive change from Danaher’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.64 annualized dividend and a yield of 0.62%. Danaher’s dividend payout ratio is presently 15.86%.
Several analysts have issued reports on DHR shares. Argus upped their target price on Danaher from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Cowen restated a “buy” rating and issued a $110.00 target price on shares of Danaher in a report on Tuesday, January 30th. Credit Suisse Group restated a “neutral” rating on shares of Danaher in a report on Friday, March 9th. Robert W. Baird restated a “buy” rating and issued a $99.00 target price on shares of Danaher in a report on Friday, December 15th. Finally, Citigroup upped their target price on Danaher to $107.00 and gave the company a “buy” rating in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Danaher currently has an average rating of “Buy” and a consensus price target of $101.40.
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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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