Renaissance Investment Group LLC Sells 2,664 Shares of Danaher Corporation $DHR

Renaissance Investment Group LLC lessened its stake in shares of Danaher Corporation (NYSE:DHR) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,343 shares of the conglomerate’s stock after selling 2,664 shares during the quarter. Renaissance Investment Group LLC’s holdings in Danaher were worth $7,007,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. WFA of San Diego LLC bought a new position in shares of Danaher during the second quarter valued at $26,000. Howard Hughes Medical Institute bought a new stake in Danaher during the second quarter worth about $27,000. Red Tortoise LLC increased its holdings in shares of Danaher by 175.0% during the second quarter. Red Tortoise LLC now owns 154 shares of the conglomerate’s stock worth $30,000 after buying an additional 98 shares in the last quarter. Heartwood Wealth Advisors LLC acquired a new position in shares of Danaher in the 3rd quarter worth approximately $37,000. Finally, Ramirez Asset Management Inc. acquired a new stake in Danaher during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Price Performance

Shares of DHR opened at $224.72 on Wednesday. The stock has a market cap of $158.73 billion, a P/E ratio of 46.33, a price-to-earnings-growth ratio of 4.44 and a beta of 0.89. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $258.23. The stock’s 50-day moving average price is $219.17 and its two-hundred day moving average price is $206.42. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, October 20th. The conglomerate reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. Danaher had a net margin of 14.44% and a return on equity of 10.92%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter last year, the firm earned $1.71 EPS. Danaher’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, December 26th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, December 26th. Danaher’s dividend payout ratio (DPR) is currently 26.39%.

Analysts Set New Price Targets

Several analysts have recently commented on DHR shares. Evercore ISI increased their target price on Danaher from $226.00 to $245.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Rothschild Redb lowered shares of Danaher from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Redburn Partners set a $220.00 price objective on shares of Danaher in a research report on Wednesday, October 8th. HSBC upped their target price 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, Morgan Stanley began coverage on shares of Danaher in a research note on Monday, December 1st. They set an “overweight” rating and a $270.00 price target on the stock. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Danaher currently has an average rating of “Moderate Buy” and a consensus price target of $247.21.

Insider Buying and Selling at Danaher

In other Danaher news, SVP Georgeann Couchara sold 5,174 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $210.42, for a total transaction of $1,088,713.08. Following the completion of the transaction, the senior vice president owned 2,625 shares of the company’s stock, valued at $552,352.50. This represents a 66.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brian W. Ellis sold 21,776 shares of Danaher stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $219.23, for a total transaction of $4,773,952.48. Following the completion of the sale, the senior vice president owned 14,553 shares in the company, valued at $3,190,454.19. This trade represents a 59.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,248 shares of company stock worth $6,609,663. Corporate insiders own 11.20% of the company’s stock.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.