Danaher Corporation $DHR Position Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its stake in Danaher Corporation (NYSE:DHR) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 456,372 shares of the conglomerate’s stock after selling 3,044 shares during the period. Danaher comprises approximately 1.2% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 20th largest position. Douglas Lane & Associates LLC’s holdings in Danaher were worth $101,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Main Street Group LTD purchased a new position in Danaher in the first quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new stake in Danaher in the second quarter valued at about $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of Danaher in the 4th quarter valued at about $27,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in Danaher by 71.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock valued at $29,000 after purchasing an additional 53 shares during the last quarter. Finally, Evolution Wealth Management Inc. lifted its stake in Danaher by 208.0% in the 1st quarter. Evolution Wealth Management Inc. now owns 154 shares of the conglomerate’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Performance

NYSE DHR traded up $2.10 during trading hours on Friday, hitting $219.56. The company had a trading volume of 1,113,624 shares, compared to its average volume of 4,446,542. The firm has a market cap of $154.35 billion, a P/E ratio of 38.99, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The business has a fifty day simple moving average of $210.88 and a 200-day simple moving average of $194.44. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period last year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Danaher Corporation will post 8.53 EPS for the current year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher’s dividend payout ratio (DPR) is currently 28.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on Danaher from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Piper Sandler started coverage on shares of Danaher in a research note on Thursday, June 11th. They issued a “neutral” rating and a $200.00 target price on the stock. Evercore reissued an “outperform” rating and set a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. Guggenheim boosted their price objective on shares of Danaher from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.23.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.