Blackstone Group Inc Increases Stock Holdings in Danaher Co. (NYSE:DHR)
Blackstone Group Inc boosted its position in Danaher Co. (NYSE:DHR) by 14.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 285,000 shares of the conglomerate’s stock after purchasing an additional 34,901 shares during the period. Danaher comprises about 0.2% of Blackstone Group Inc’s investment portfolio, making the stock its 17th biggest position. Blackstone Group Inc’s holdings in Danaher were worth $40,732,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DHR. Front Street Capital Management Inc. raised its stake in shares of Danaher by 36.3% in the second quarter. Front Street Capital Management Inc. now owns 142,855 shares of the conglomerate’s stock worth $20,417,000 after buying an additional 38,064 shares during the period. AQR Capital Management LLC raised its stake in shares of Danaher by 5.3% in the second quarter. AQR Capital Management LLC now owns 2,751,355 shares of the conglomerate’s stock worth $389,070,000 after buying an additional 139,273 shares during the period. BBR Partners LLC raised its stake in shares of Danaher by 47.6% in the second quarter. BBR Partners LLC now owns 3,358 shares of the conglomerate’s stock worth $480,000 after buying an additional 1,083 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Danaher by 7.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 152,823 shares of the conglomerate’s stock worth $21,841,000 after buying an additional 10,524 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Danaher by 1.4% in the second quarter. Vanguard Group Inc. now owns 48,262,218 shares of the conglomerate’s stock worth $6,897,635,000 after buying an additional 686,421 shares during the period. 78.43% of the stock is currently owned by institutional investors and hedge funds.
In other Danaher news, Chairman Mitchell P. Rales acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $139.52 per share, for a total transaction of $348,800.00. Following the acquisition, the chairman now directly owns 3,030,453 shares in the company, valued at $422,808,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert S. Lutz sold 14,668 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 21,054 shares of the company’s stock, valued at approximately $3,016,617.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,202 shares of company stock valued at $25,175,829. Company insiders own 11.40% of the company’s stock.
Danaher (NYSE:DHR) last announced its earnings results on Thursday, July 18th. The conglomerate reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The firm had revenue of $5.16 billion during 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 company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. As a group, analysts anticipate that Danaher Co. will post 4.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, September 26th. Danaher’s dividend payout ratio (DPR) is 15.04%.
Several research analysts have recently commented on DHR shares. Robert W. Baird raised their price objective on Danaher from $131.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Needham & Company LLC reissued a “buy” rating and set a $155.00 target price (up previously from $142.00) on shares of Danaher in a research note on Friday, July 19th. Piper Jaffray Companies lifted their target price on Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada set a $134.00 target price on Danaher and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Wolfe Research initiated coverage on Danaher in a research note on Thursday, May 30th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $143.54.
Danaher Company Profile
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.
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