Zurich Insurance Group Ltd FI Boosts Stock Position in Danaher Co. (NYSE:DHR)

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Zurich Insurance Group Ltd FI grew its stake in shares of Danaher Co. (NYSE:DHR) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,898 shares of the conglomerate’s stock after acquiring an additional 32,918 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Danaher were worth $19,565,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position 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 in the last quarter. Northern Trust Corp raised its position in shares of Danaher by 0.5% in the second quarter. Northern Trust Corp now owns 8,929,430 shares of the conglomerate’s stock worth $1,276,194,000 after buying an additional 41,740 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Danaher by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 5,753,246 shares of the conglomerate’s stock worth $822,255,000 after buying an additional 188,752 shares in the last quarter. Jennison Associates LLC raised its position in shares of Danaher by 38.4% in the second quarter. Jennison Associates LLC now owns 5,135,358 shares of the conglomerate’s stock worth $733,945,000 after buying an additional 1,424,328 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Danaher by 3.7% in the first quarter. American Century Companies Inc. now owns 3,700,569 shares of the conglomerate’s stock worth $488,549,000 after buying an additional 133,300 shares in the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.

In other news, CAO Robert S. Lutz sold 14,668 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $143.28, for a total transaction of $2,101,631.04. Following the transaction, the chief accounting officer now directly owns 21,054 shares of the company’s stock, valued at $3,016,617.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Patrick Joyce, Jr. sold 70,544 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $141.77, for a total value of $10,001,022.88. Following the transaction, the insider now directly owns 271,023 shares in the company, valued at $38,422,930.71. The disclosure for this sale can be found here. Insiders have sold 177,202 shares of company stock worth $25,175,829 over the last ninety days. Insiders own 11.40% of the company’s stock.

A number of brokerages recently issued reports on DHR. Wolfe Research began coverage on Danaher in a research report on Thursday, May 30th. They issued an “outperform” rating on the stock. Robert W. Baird increased their price objective on Danaher from $131.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Piper Jaffray Companies increased their price objective on Danaher from $148.00 to $153.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Argus increased their price objective on Danaher to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada set a $134.00 price objective on Danaher and gave the stock a “hold” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $143.54.

DHR traded up $0.89 during trading on Friday, reaching $146.64. The stock had a trading volume of 1,947,829 shares, compared to its average volume of 1,995,961. The stock has a market cap of $102.10 billion, a PE ratio of 32.44, a PEG ratio of 2.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.91 and a current ratio of 2.32. Danaher Co. has a one year low of $94.59 and a one year high of $146.93. The business has a 50-day moving average of $140.13 and a 200-day moving average of $135.80.

Danaher (NYSE:DHR) last released its earnings results on Thursday, July 18th. The conglomerate reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. The business had revenue of $5.16 billion for 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 firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Equities research analysts forecast that Danaher Co. will post 4.79 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.46%. Danaher’s dividend payout ratio (DPR) is currently 15.04%.

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.

Further Reading: What is the return on assets (ROA) ratio?

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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