Chevy Chase Trust Holdings LLC Sells 14,835 Shares of Danaher Co. (NYSE:DHR)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Danaher Co. (NYSE:DHR) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 402,187 shares of the conglomerate’s stock after selling 14,835 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Danaher worth $111,816,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DHR. Fort Pitt Capital Group LLC increased its stake in shares of Danaher by 3.2% in the third quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock valued at $66,194,000 after buying an additional 7,421 shares in the last quarter. Good Life Advisors LLC bought a new position in shares of Danaher in the third quarter worth about $217,000. Oak Thistle LLC bought a new position in shares of Danaher in the second quarter worth about $363,000. Harvest Portfolios Group Inc. lifted its position in shares of Danaher by 1.2% during the third quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock worth $56,233,000 after purchasing an additional 2,465 shares in the last quarter. Finally, Diversified Trust Co grew its stake in shares of Danaher by 75.4% during the second quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock valued at $1,090,000 after purchasing an additional 1,874 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company started coverage on Danaher in a report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective on the stock. Wolfe Research raised 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. StockNews.com upgraded Danaher from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Stephens restated an “overweight” rating and set a $315.00 target price on shares of Danaher in a research report on Wednesday, October 23rd. Finally, Raymond James lowered their price target on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $287.16.

Danaher Stock Performance

DHR stock opened at $239.00 on Monday. Danaher Co. has a 1-year low of $215.68 and a 1-year high of $281.70. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The firm has a market cap of $172.62 billion, a PE ratio of 45.74, a P/E/G ratio of 4.41 and a beta of 0.85. The business’s 50-day moving average price is $254.59 and its two-hundred day moving average price is $259.41.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.14. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. Danaher’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.02 EPS. As a group, research analysts forecast that Danaher Co. will post 7.5 earnings per share for the current year.

Danaher Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.45%. Danaher’s payout ratio is 20.61%.

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.