Retirement Systems of Alabama Sells 190,741 Shares of Danaher Co. (NYSE:DHR)

Retirement Systems of Alabama lessened its position in Danaher Co. (NYSE:DHR) by 57.6% in the 3rd quarter, Holdings Channel reports. The firm owned 140,184 shares of the conglomerate’s stock after selling 190,741 shares during the period. Retirement Systems of Alabama’s holdings in Danaher were worth $38,974,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Oddo BHF Asset Management Sas bought a new stake in shares of Danaher in the third quarter worth $24,204,000. Peapack Gladstone Financial Corp boosted its stake in shares of Danaher by 2.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 106,616 shares of the conglomerate’s stock worth $29,641,000 after buying an additional 2,314 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Danaher by 8.5% in the 3rd quarter. Tidal Investments LLC now owns 52,947 shares of the conglomerate’s stock valued at $14,720,000 after acquiring an additional 4,156 shares in the last quarter. Destination Wealth Management increased its position in shares of Danaher by 1.7% in the third quarter. Destination Wealth Management now owns 159,355 shares of the conglomerate’s stock valued at $44,304,000 after acquiring an additional 2,686 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Danaher by 591.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 36,075 shares of the conglomerate’s stock worth $10,030,000 after acquiring an additional 30,855 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on Danaher in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective on the stock. Evercore ISI upped their price target on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Stephens reissued an “overweight” rating and issued a $315.00 price objective on shares of Danaher in a research report on Wednesday, October 23rd. TD Cowen upped their target price on shares of Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Wolfe Research upgraded Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target for the company in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $287.95.

Danaher Stock Up 0.2 %

Shares of DHR opened at $234.99 on Friday. 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 Co. has a 12 month low of $222.53 and a 12 month high of $281.70. The firm’s 50 day moving average is $246.92 and its 200-day moving average is $257.43. The stock has a market capitalization of $169.73 billion, a PE ratio of 44.85, a P/E/G ratio of 4.33 and a beta of 0.83.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating the consensus estimate of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period last year, the firm earned $2.02 EPS. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Danaher Co. will post 7.5 EPS for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.46%. Danaher’s payout ratio is currently 20.61%.

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.