Chevy Chase Trust Holdings LLC Reduces Position in Danaher Corporation $DHR

Chevy Chase Trust Holdings LLC decreased its holdings in Danaher Corporation (NYSE:DHR) by 3.5% in the third quarter, Holdings Channel reports. The fund owned 373,742 shares of the conglomerate’s stock after selling 13,710 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Danaher were worth $74,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of DHR. Cinctive Capital Management LP acquired a new position in shares of Danaher during the 3rd quarter worth approximately $2,422,000. Circle Wealth Management LLC increased its holdings in shares of Danaher by 129.6% in the third quarter. Circle Wealth Management LLC now owns 3,885 shares of the conglomerate’s stock valued at $770,000 after purchasing an additional 2,193 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Danaher by 63.0% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 72,032 shares of the conglomerate’s stock valued at $14,176,000 after purchasing an additional 27,834 shares during the last quarter. California Public Employees Retirement System lifted its position in Danaher by 29.6% during the third quarter. California Public Employees Retirement System now owns 1,771,851 shares of the conglomerate’s stock worth $351,287,000 after buying an additional 404,719 shares in the last quarter. Finally, Chilton Investment Co. Inc. lifted its position in Danaher by 15.0% during the third quarter. Chilton Investment Co. Inc. now owns 3,229 shares of the conglomerate’s stock worth $640,000 after buying an additional 422 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Gregory M. Milosevich sold 1,320 shares of Danaher stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $208.01, for a total value of $274,573.20. Following the completion of the sale, the executive vice president owned 5,099 shares in the company, valued at approximately $1,060,642.99. This trade represents a 20.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DHR. JPMorgan Chase & Co. raised their target price on Danaher from $270.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Argus set a $265.00 price objective on shares of Danaher in a research report on Wednesday, January 14th. Jefferies Financial Group lifted their target price on shares of Danaher from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Danaher from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, HSBC raised their price target on shares of Danaher from $255.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Nineteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Danaher has a consensus rating of “Moderate Buy” and an average price target of $253.55.

Danaher Stock Up 0.6%

Shares of DHR opened at $187.34 on Friday. The firm has a market cap of $132.47 billion, a P/E ratio of 37.17, a price-to-earnings-growth ratio of 2.54 and a beta of 0.93. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $242.80. The company’s 50-day moving average price is $218.79 and its 200 day moving average price is $215.41. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.09. Danaher had a net margin of 14.71% and a return on equity of 10.81%. The company had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.79 billion. During the same quarter last year, the firm posted $2.14 earnings per share. Danaher’s revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, March 27th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, March 27th. This is an increase from Danaher’s previous quarterly dividend of $0.32. Danaher’s dividend payout ratio is 25.40%.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.