Cramer Rosenthal Mcglynn LLC Trims Holdings in Danaher Co. (NYSE:DHR)

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Cramer Rosenthal Mcglynn LLC cut its holdings in Danaher Co. (NYSE:DHR) by 45.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,580 shares of the conglomerate’s stock after selling 212,541 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Danaher were worth $35,956,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Northern Trust Corp raised its stake in Danaher by 0.5% during the 2nd quarter. Northern Trust Corp now owns 8,929,430 shares of the conglomerate’s stock worth $1,276,194,000 after acquiring an additional 41,740 shares during the period. Geode Capital Management LLC boosted its position in shares of Danaher by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 7,527,142 shares of the conglomerate’s stock worth $774,743,000 after buying an additional 583,194 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Danaher by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 5,753,246 shares of the conglomerate’s stock worth $822,255,000 after buying an additional 188,752 shares during the period. Jennison Associates LLC boosted its position in shares of Danaher by 38.4% in the second quarter. Jennison Associates LLC now owns 5,135,358 shares of the conglomerate’s stock worth $733,945,000 after buying an additional 1,424,328 shares during the period. Finally, Findlay Park Partners LLP boosted its position in shares of Danaher by 0.9% in the first quarter. Findlay Park Partners LLP now owns 4,635,000 shares of the conglomerate’s stock worth $611,913,000 after buying an additional 40,000 shares during the period. 78.52% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Robert S. Lutz sold 14,668 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $143.28, for a total value of $2,101,631.04. Following the sale, the chief accounting officer now owns 21,054 shares of the company’s stock, valued at $3,016,617.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian W. Ellis sold 1,010 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $144.04, for a total transaction of $145,480.40. Following the completion of the sale, the insider now directly owns 20,889 shares in the company, valued at approximately $3,008,851.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,202 shares of company stock worth $25,175,829. Corporate insiders own 11.40% of the company’s stock.

Shares of Danaher stock traded up $0.65 on Friday, reaching $142.39. 152,233 shares of the company were exchanged, compared to its average volume of 1,917,615. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32. The company’s 50-day moving average is $140.18 and its two-hundred day moving average is $135.10. The firm has a market cap of $97.99 billion, a price-to-earnings ratio of 31.50, a P/E/G ratio of 2.46 and a beta of 0.94. Danaher Co. has a 1-year low of $94.59 and a 1-year high of $145.50.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. As a group, sell-side analysts forecast that Danaher Co. will post 4.79 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.68 annualized dividend and a yield of 0.48%. Danaher’s dividend payout ratio (DPR) is currently 15.04%.

Several brokerages have recently weighed in on DHR. Piper Jaffray Companies upped their target price on Danaher from $148.00 to $153.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada set a $134.00 price target on Danaher and gave the company a “hold” rating in a report on Friday, July 19th. Needham & Company LLC reissued a “buy” rating and issued a $155.00 price target (up previously from $142.00) on shares of Danaher in a report on Friday, July 19th. Argus increased their price target on Danaher to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Robert W. Baird increased their price target on Danaher from $131.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $143.54.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

Further Reading: Quiet Period Expirations

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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