Truist Financial Corp Sells 64,856 Shares of Danaher Co. (NYSE:DHR)

Truist Financial Corp lessened its position in shares of Danaher Co. (NYSE:DHR) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,991 shares of the conglomerate’s stock after selling 64,856 shares during the period. Truist Financial Corp owned about 0.08% of Danaher worth $128,392,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Danaher by 18.6% in the 3rd quarter. Wellington Management Group LLP now owns 24,930,281 shares of the conglomerate’s stock valued at $6,185,203,000 after acquiring an additional 3,905,449 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Danaher by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,183,501 shares of the conglomerate’s stock valued at $2,030,327,000 after acquiring an additional 502,868 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Danaher by 1.7% in the 3rd quarter. Northern Trust Corp now owns 8,100,722 shares of the conglomerate’s stock valued at $2,009,789,000 after acquiring an additional 134,905 shares in the last quarter. Flossbach Von Storch AG grew its holdings in shares of Danaher by 1.8% in the 4th quarter. Flossbach Von Storch AG now owns 4,601,351 shares of the conglomerate’s stock valued at $1,064,477,000 after acquiring an additional 82,672 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Danaher by 13.2% in the 3rd quarter. Invesco Ltd. now owns 4,070,455 shares of the conglomerate’s stock valued at $1,009,880,000 after acquiring an additional 473,693 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on DHR shares. Royal Bank of Canada raised their target price on shares of Danaher from $254.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com downgraded shares of Danaher from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Robert W. Baird raised their target price on shares of Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen raised their target price on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp raised their price objective on shares of Danaher from $260.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $270.00.

Danaher Trading Up 0.3 %

DHR stock traded up $0.78 during midday trading on Friday, hitting $246.58. The stock had a trading volume of 2,710,446 shares, compared to its average volume of 2,710,897. The firm has a market cap of $182.64 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 3.78 and a beta of 0.83. The company has a current ratio of 1.85, a quick ratio of 1.37 and a debt-to-equity ratio of 0.31. Danaher Co. has a 1-year low of $182.09 and a 1-year high of $259.00. The business has a fifty day moving average price of $248.87 and a two-hundred day moving average price of $231.08.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the previous year, the business earned $2.36 earnings per share. Danaher’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that Danaher Co. will post 7.65 earnings per share for the current fiscal year.

Danaher Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.44%. This is a positive change from Danaher’s previous quarterly dividend of $0.24. Danaher’s dividend payout ratio is currently 18.31%.

Insider Activity

In other news, CEO Rainer Blair sold 47,175 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the transaction, the chief executive officer now owns 115,995 shares in the company, valued at $28,908,273.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Rainer Blair sold 47,175 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $249.22, for a total transaction of $11,756,953.50. Following the completion of the sale, the chief executive officer now directly owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Georgeann Couchara sold 2,622 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $242.67, for a total transaction of $636,280.74. Following the sale, the senior vice president now directly owns 4,244 shares of the company’s stock, valued at $1,029,891.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,565 shares of company stock worth $26,641,364. Company insiders own 11.10% of the company’s stock.

Danaher Profile

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.