Cary Street Partners Investment Advisory LLC Sells 6,183 Shares of Danaher Co. (NYSE:DHR)

Cary Street Partners Investment Advisory LLC lowered its stake in shares of Danaher Co. (NYSE:DHR) by 81.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,412 shares of the conglomerate’s stock after selling 6,183 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Danaher were worth $327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Penobscot Investment Management Company Inc. raised its holdings in shares of Danaher by 7.8% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 61,073 shares of the conglomerate’s stock valued at $14,129,000 after purchasing an additional 4,437 shares during the last quarter. Field & Main Bank grew its position in Danaher by 393.3% in the 4th quarter. Field & Main Bank now owns 740 shares of the conglomerate’s stock worth $171,000 after purchasing an additional 590 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Danaher by 3.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 13,349 shares of the conglomerate’s stock valued at $3,088,000 after buying an additional 412 shares during the last quarter. Ledyard National Bank lifted its position in shares of Danaher by 10.1% during the 4th quarter. Ledyard National Bank now owns 6,229 shares of the conglomerate’s stock worth $1,441,000 after buying an additional 571 shares in the last quarter. Finally, Steele Capital Management Inc. bought a new position in shares of Danaher in the fourth quarter valued at approximately $235,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DHR has been the topic of a number of recent analyst reports. Barclays lifted their price target on Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Raymond James boosted their price target on shares of Danaher from $240.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. TD Cowen raised their price objective on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. KeyCorp lifted 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. Finally, Citigroup increased their target price on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $267.31.

Danaher Price Performance

Shares of NYSE DHR opened at $246.93 on Thursday. The stock has a fifty day moving average of $248.71 and a 200-day moving average of $231.90. The stock has a market cap of $182.90 billion, a PE ratio of 41.85, a price-to-earnings-growth ratio of 3.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 1.85. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $259.00.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.20. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the prior year, the business posted $2.36 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.44%. This is an increase from Danaher’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, March 27th. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

Insider Activity

In related news, EVP Joakim Weidemanis sold 22,433 shares of Danaher stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $250.46, for a total transaction of $5,618,569.18. Following the completion of the sale, the executive vice president now owns 90,412 shares of the company’s stock, valued at $22,644,589.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Joakim Weidemanis sold 22,433 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $250.46, for a total value of $5,618,569.18. Following the transaction, the executive vice president now directly owns 90,412 shares in the company, valued at $22,644,589.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rainer Blair sold 47,175 shares of Danaher stock in a transaction that occurred on 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 sale, the chief executive officer now owns 115,995 shares of the company’s stock, valued at $28,908,273.90. The disclosure for this sale can be found here. Insiders sold 106,565 shares of company stock worth $26,641,364 in the last three months. Corporate insiders own 11.10% 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.