Cullinan Associates Inc. Lowers Position in Danaher Co. (DHR)

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Cullinan Associates Inc. lowered its stake in Danaher Co. (NYSE:DHR) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,740 shares of the conglomerate’s stock after selling 3,200 shares during the period. Cullinan Associates Inc.’s holdings in Danaher were worth $4,427,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Gardiner Nancy B increased its holdings in shares of Danaher by 5.8% in the third quarter. Gardiner Nancy B now owns 9,110 shares of the conglomerate’s stock valued at $991,000 after purchasing an additional 500 shares in the last quarter. Reilly Financial Advisors LLC increased its holdings in shares of Danaher by 62.6% in the third quarter. Reilly Financial Advisors LLC now owns 1,301 shares of the conglomerate’s stock valued at $141,000 after purchasing an additional 501 shares in the last quarter. Securian Asset Management Inc increased its holdings in shares of Danaher by 0.8% in the second quarter. Securian Asset Management Inc now owns 62,119 shares of the conglomerate’s stock valued at $6,130,000 after purchasing an additional 504 shares in the last quarter. Centaurus Financial Inc. increased its holdings in shares of Danaher by 20.3% in the second quarter. Centaurus Financial Inc. now owns 3,026 shares of the conglomerate’s stock valued at $299,000 after purchasing an additional 510 shares in the last quarter. Finally, Renaissance Investment Group LLC increased its holdings in shares of Danaher by 0.7% in the second quarter. Renaissance Investment Group LLC now owns 74,099 shares of the conglomerate’s stock valued at $7,312,000 after purchasing an additional 525 shares in the last quarter. 77.00% of the stock is owned by institutional investors and hedge funds.

DHR has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Danaher from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Morgan Stanley lifted their target price on shares of Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. Bank of America set a $113.00 target price on shares of Danaher and gave the stock a “buy” rating in a report on Thursday, July 19th. ValuEngine raised shares of Danaher from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Finally, Royal Bank of Canada lifted their target price on shares of Danaher to $107.00 and gave the stock a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $112.14.

In other news, insider Thomas Patrick Joyce, Jr. sold 104,913 shares of Danaher stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $101.88, for a total transaction of $10,688,536.44. Following the transaction, the insider now directly owns 276,438 shares of the company’s stock, valued at $28,163,503.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Robert S. Lutz sold 14,555 shares of Danaher stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $103.93, for a total transaction of $1,512,701.15. Following the transaction, the senior vice president now directly owns 18,044 shares in the company, valued at $1,875,312.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,961 shares of company stock worth $30,619,691. Insiders own 11.90% of the company’s stock.

DHR traded down $0.78 during trading on Friday, reaching $100.46. 246,805 shares of the company’s stock were exchanged, compared to its average volume of 2,456,721. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.50. Danaher Co. has a fifty-two week low of $89.00 and a fifty-two week high of $110.13. The firm has a market capitalization of $73.45 billion, a PE ratio of 25.16, a P/E/G ratio of 2.03 and a beta of 1.01.

Danaher (NYSE:DHR) last released its earnings results on Thursday, October 18th. The conglomerate reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Danaher had a net margin of 13.84% and a return on equity of 11.55%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. Equities analysts forecast that Danaher Co. will post 4.49 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.64%. Danaher’s dividend payout ratio is 15.88%.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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