M&T Bank Corp Trims Stock Position in Danaher Corporation $DHR

M&T Bank Corp cut its holdings in shares of Danaher Corporation (NYSE:DHR) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 432,783 shares of the conglomerate’s stock after selling 13,538 shares during the period. M&T Bank Corp’s holdings in Danaher were worth $85,804,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. White Pine Capital LLC grew its position in Danaher by 1.4% in the second quarter. White Pine Capital LLC now owns 3,494 shares of the conglomerate’s stock worth $690,000 after buying an additional 49 shares during the last quarter. SOL Capital Management CO lifted its position in shares of Danaher by 2.8% during the 3rd quarter. SOL Capital Management CO now owns 1,829 shares of the conglomerate’s stock valued at $363,000 after acquiring an additional 50 shares during the last quarter. Purkiss Capital Advisors LLC lifted its position in shares of Danaher by 3.9% during the 3rd quarter. Purkiss Capital Advisors LLC now owns 1,327 shares of the conglomerate’s stock valued at $263,000 after acquiring an additional 50 shares during the last quarter. TCTC Holdings LLC boosted its stake in shares of Danaher by 0.7% during the 3rd quarter. TCTC Holdings LLC now owns 7,439 shares of the conglomerate’s stock worth $1,475,000 after acquiring an additional 51 shares in the last quarter. Finally, Howard Capital Management Group LLC grew its holdings in shares of Danaher by 4.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,159 shares of the conglomerate’s stock worth $230,000 after acquiring an additional 53 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DHR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Danaher in a research report on Monday, December 29th. The Goldman Sachs Group dropped their price target on Danaher from $270.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Evercore restated an “outperform” rating and set a $254.00 price objective on shares of Danaher in a report on Wednesday, January 28th. Argus set a $265.00 target price on shares of Danaher in a report on Wednesday, January 14th. Finally, Guggenheim lifted their target price on shares of Danaher from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. Nineteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and an average target price of $253.55.

Danaher Stock Performance

Shares of DHR stock opened at $187.34 on Friday. The company has a market capitalization of $132.47 billion, a price-to-earnings ratio of 37.17, a P/E/G ratio of 2.52 and a beta of 0.93. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $242.80. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $218.79 and its 200-day simple moving average is $215.34.

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

Danaher Increases Dividend

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

Insider Activity at Danaher

In related news, EVP Gregory M. Milosevich sold 1,320 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.10% of the company’s stock.

About Danaher

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.