Allen Investment Management LLC Has $93.40 Million Position in Danaher Corporation (DHR)
Allen Investment Management LLC increased its stake in Danaher Corporation (NYSE:DHR) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,088,852 shares of the conglomerate’s stock after buying an additional 72,114 shares during the period. Danaher accounts for about 4.3% of Allen Investment Management LLC’s holdings, making the stock its 8th largest holding. Allen Investment Management LLC owned 0.16% of Danaher worth $93,402,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. GQG Partners LLC purchased a new stake in Danaher in the 2nd quarter worth $101,000. Proficio Capital Partners LLC lifted its stake in Danaher by 92.3% in the first quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock worth $105,000 after purchasing an additional 598 shares during the last quarter. Monetary Management Group Inc. raised its stake in shares of Danaher by 10.7% during the second quarter. Monetary Management Group Inc. now owns 1,550 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 150 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Danaher by 185.5% during the second quarter. Acrospire Investment Management LLC now owns 1,693 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Motco raised its stake in shares of Danaher by 8.8% during the second quarter. Motco now owns 2,011 shares of the conglomerate’s stock valued at $170,000 after acquiring an additional 163 shares in the last quarter. 75.56% of the stock is currently owned by institutional investors and hedge funds.
Shares of Danaher Corporation (NYSE DHR) opened at $94.02 on Friday. Danaher Corporation has a fifty-two week low of $76.27 and a fifty-two week high of $94.24. The firm has a market cap of $65,400.78, a price-to-earnings ratio of 24.17, a PEG ratio of 2.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.43 and a quick ratio of 1.00.
Danaher (NYSE:DHR) last announced its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.05. Danaher had a net margin of 13.36% and a return on equity of 11.29%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the business earned $0.87 EPS. The company’s revenue was up 9.6% on a year-over-year basis. sell-side analysts anticipate that Danaher Corporation will post 3.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were issued a $0.14 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.60%. Danaher’s payout ratio is 16.52%.
Several brokerages recently issued reports on DHR. Goldman Sachs Group Inc reissued a “neutral” rating and set a $83.00 price objective on shares of Danaher in a report on Tuesday, September 26th. Credit Suisse Group lifted their price target on shares of Danaher from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. J P Morgan Chase & Co restated an “overweight” rating and set a $95.00 target price on shares of Danaher in a research report on Friday, September 8th. Robert W. Baird upped their price objective on shares of Danaher from $87.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Finally, BidaskClub downgraded shares of Danaher from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $93.31.
In other news, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $90.82, for a total value of $960,693.96. Following the sale, the director now directly owns 104,621 shares in the company, valued at approximately $9,501,679.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Patrick Joyce, Jr. sold 125,989 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $92.64, for a total transaction of $11,671,620.96. Following the completion of the transaction, the chief executive officer now directly owns 271,737 shares in the company, valued at $25,173,715.68. The disclosure for this sale can be found here. Insiders sold a total of 317,498 shares of company stock worth $28,838,801 over the last 90 days. Company insiders own 12.20% of the company’s stock.
Danaher Company Profile
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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