Utah Retirement Systems trimmed its holdings in Danaher Co. (NYSE:DHR) by 4.2% during the first quarter, Holdings Channel reports. The institutional investor owned 120,322 shares of the conglomerate’s stock after selling 5,300 shares during the period. Utah Retirement Systems’ holdings in Danaher were worth $27,082,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of DHR. Sterling Investment Advisors Ltd. acquired a new stake in Danaher in the 1st quarter worth about $25,000. RMR Wealth Builders acquired a new stake in Danaher in the 4th quarter worth about $26,000. Ellis Investment Partners LLC boosted its stake in Danaher by 72.6% in the 1st quarter. Ellis Investment Partners LLC now owns 126 shares of the conglomerate’s stock worth $28,000 after buying an additional 53 shares during the last quarter. SOA Wealth Advisors LLC. acquired a new stake in Danaher in the 4th quarter worth about $29,000. Finally, Burleson & Company LLC acquired a new stake in Danaher in the 1st quarter worth about $40,000. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:DHR traded up $5.19 during mid-day trading on Thursday, hitting $284.99. 42,039 shares of the company traded hands, compared to its average volume of 2,174,544. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.70 and a current ratio of 2.05. Danaher Co. has a 52-week low of $190.34 and a 52-week high of $287.00. The stock’s 50 day moving average price is $261.17. The firm has a market capitalization of $203.28 billion, a price-to-earnings ratio of 44.06, a P/E/G ratio of 1.77 and a beta of 0.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, June 25th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 24th. This represents a $0.84 annualized dividend and a yield of 0.29%. Danaher’s dividend payout ratio is presently 13.31%.
In other Danaher news, SVP Angela S. Lalor sold 3,092 shares of Danaher stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $255.79, for a total transaction of $790,902.68. Following the sale, the senior vice president now directly owns 30,937 shares in the company, valued at approximately $7,913,375.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joakim Weidemanis sold 17,169 shares of Danaher stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $258.76, for a total value of $4,442,650.44. Following the sale, the executive vice president now owns 84,420 shares in the company, valued at $21,844,519.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,165 shares of company stock worth $9,051,818 over the last 90 days. 11.40% of the stock is owned by company insiders.
A number of equities analysts have recently commented on DHR shares. raised their price objective on Danaher from $275.00 to $315.00 in a report on Friday, April 23rd. Wells Fargo & Company raised their price objective on Danaher from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, April 23rd. Credit Suisse Group raised their price objective on Danaher from $282.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. Jefferies Financial Group raised their target price on Danaher from $270.00 to $290.00 and gave the company a “buy” rating in a report on Friday, April 23rd. Finally, Zacks Investment Research downgraded Danaher from a “hold” rating to a “sell” rating and set a $241.00 target price on the stock. in a report on Friday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $280.27.
Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines.
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