Castle Hook Partners LP Acquires Shares of 1,152,081 Danaher Corporation $DHR

Castle Hook Partners LP acquired a new stake in Danaher Corporation (NYSE:DHR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,152,081 shares of the conglomerate’s stock, valued at approximately $263,734,000. Danaher accounts for approximately 1.1% of Castle Hook Partners LP’s holdings, making the stock its 10th largest position.

Several other large investors also recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG lifted its position in shares of Danaher by 25.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock worth $83,895,000 after purchasing an additional 74,301 shares during the period. Maxi Investments CY Ltd purchased a new stake in shares of Danaher in the 3rd quarter worth approximately $3,251,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Danaher by 303.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock worth $56,777,000 after purchasing an additional 186,584 shares during the period. Defender Capital LLC. purchased a new stake in shares of Danaher in the 4th quarter worth approximately $35,715,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Danaher in the 3rd quarter worth approximately $17,480,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Trading Down 1.9%

NYSE:DHR opened at $177.85 on Thursday. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The firm has a 50 day moving average of $180.26 and a 200 day moving average of $203.59. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $125.88 billion, a price-to-earnings ratio of 34.40, a PEG ratio of 2.31 and a beta of 0.81.

Danaher (NYSE:DHR) last posted its earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. Danaher’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Danaher Corporation will post 8.45 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Danaher’s dividend payout ratio is presently 30.95%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Danaher from $275.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Royal Bank Of Canada began coverage on shares of Danaher in a research report on Thursday, May 14th. They issued an “outperform” rating and a $200.00 price target for the company. Argus decreased their target price on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 24th. UBS Group decreased their target price on shares of Danaher from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Finally, Piper Sandler began coverage on shares of Danaher in a research report on Thursday, June 11th. They set a “neutral” rating and a $200.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $233.61.

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.