Danaher Corporation $DHR Position Reduced by Cannell & Spears LLC

Cannell & Spears LLC trimmed its position in Danaher Corporation (NYSE:DHR) by 42.4% in the third quarter, HoldingsChannel.com reports. The firm owned 241,890 shares of the conglomerate’s stock after selling 178,196 shares during the quarter. Danaher comprises approximately 0.9% of Cannell & Spears LLC’s investment portfolio, making the stock its 28th biggest holding. Cannell & Spears LLC’s holdings in Danaher were worth $47,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC lifted its holdings in shares of Danaher by 6.3% in the second quarter. Sivia Capital Partners LLC now owns 2,009 shares of the conglomerate’s stock valued at $397,000 after buying an additional 119 shares during the period. Los Angeles Capital Management LLC grew its holdings in Danaher by 2.2% during the second quarter. Los Angeles Capital Management LLC now owns 3,297 shares of the conglomerate’s stock worth $651,000 after acquiring an additional 71 shares during the period. Allworth Financial LP grew its holdings in Danaher by 12.2% during the second quarter. Allworth Financial LP now owns 5,099 shares of the conglomerate’s stock worth $1,007,000 after acquiring an additional 554 shares during the period. Good Life Advisors LLC bought a new stake in Danaher in the second quarter worth about $326,000. Finally, Arvest Bank Trust Division acquired a new stake in Danaher in the 2nd quarter valued at about $207,000. 79.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DHR. Wells Fargo & Company raised their price objective on shares of Danaher from $230.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. increased their target price on shares of Danaher from $270.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. KeyCorp restated an “overweight” rating on shares of Danaher in a report on Thursday, January 29th. HSBC lifted their price target on shares of Danaher from $255.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Finally, Argus set a $265.00 price target on Danaher in a report on Wednesday, January 14th. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Danaher has an average rating of “Moderate Buy” and an average target price of $253.55.

Danaher Price Performance

NYSE DHR opened at $187.34 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $242.80. The company has a market cap of $132.47 billion, a PE ratio of 37.17, a PEG ratio of 2.54 and a beta of 0.93. The stock’s 50-day moving average price is $218.79 and its two-hundred day moving average price is $215.41.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 EPS for the quarter, topping the consensus estimate of $2.14 by $0.09. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company posted $2.14 earnings per share. On average, analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Increases Dividend

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

Insider Buying and Selling

In other Danaher news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total transaction of $274,573.20. Following the transaction, the executive vice president directly owned 5,099 shares in the company, valued at approximately $1,060,642.99. The trade was a 20.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Danaher Company Profile

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.