Cary Street Partners Asset Management LLC Cuts Stock Holdings in Danaher Co. (NYSE:DHR)

Cary Street Partners Asset Management LLC lessened its holdings in Danaher Co. (NYSE:DHR) by 4.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,442 shares of the conglomerate’s stock after selling 67 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Danaher were worth $401,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DHR. Fort Pitt Capital Group LLC grew its position in shares of Danaher by 3.2% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock worth $66,194,000 after buying an additional 7,421 shares during the last quarter. Good Life Advisors LLC purchased a new stake in shares of Danaher during the 3rd quarter valued at $217,000. Oak Thistle LLC acquired a new stake in shares of Danaher in the 2nd quarter worth $363,000. Duality Advisers LP purchased a new position in Danaher during the 1st quarter worth $5,573,000. Finally, Diversified Trust Co increased its position in Danaher by 75.4% during the 2nd quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock valued at $1,090,000 after buying an additional 1,874 shares in the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the transaction, the senior vice president now owns 4,212 shares in the company, valued at $1,130,374.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 10.90% of the stock is currently owned by insiders.

Danaher Stock Performance

Shares of DHR stock opened at $250.16 on Wednesday. The company has a market capitalization of $180.68 billion, a P/E ratio of 47.74, a P/E/G ratio of 4.55 and a beta of 0.85. Danaher Co. has a 12-month low of $192.35 and a 12-month high of $281.70. The business’s 50 day moving average is $266.16 and its two-hundred day moving average is $260.84. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. Analysts expect that Danaher Co. will post 7.51 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

DHR has been the topic of a number of research analyst reports. Stephens restated an “overweight” rating and set a $315.00 price target on shares of Danaher in a research note on Wednesday, October 23rd. Wolfe Research upgraded shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Stifel Nicolaus upped their target price on Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their price target on Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.16.

Danaher Company 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.