TIAA Trust National Association Buys 46,826 Shares of Danaher Co. (NYSE:DHR)

TIAA Trust National Association raised its holdings in shares of Danaher Co. (NYSE:DHR) by 145.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 78,911 shares of the conglomerate’s stock after acquiring an additional 46,826 shares during the period. TIAA Trust National Association’s holdings in Danaher were worth $19,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC raised its position in shares of Danaher by 20.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock valued at $2,112,000 after acquiring an additional 1,533 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Danaher by 0.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock valued at $6,156,000 after buying an additional 149 shares in the last quarter. Cercano Management LLC increased its position in shares of Danaher by 11.4% in the 4th quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after buying an additional 20,715 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Danaher by 48.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after buying an additional 96,395 shares in the last quarter. Finally, Donaldson Capital Management LLC increased its position in shares of Danaher by 5.8% in the 1st quarter. Donaldson Capital Management LLC now owns 1,469 shares of the conglomerate’s stock valued at $367,000 after buying an additional 80 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DHR. Bank of America upped their price objective on shares of Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Jefferies Financial Group initiated coverage on shares of Danaher in a research report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price objective for the company. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Finally, TD Cowen upped their target price on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $268.67.

Insider Transactions at Danaher

In other news, Director Alan G. Spoon sold 708 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now directly owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Danaher news, SVP Brian W. Ellis sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $250.01, for a total transaction of $1,000,040.00. Following the completion of the transaction, the senior vice president now directly owns 29,830 shares in the company, valued at $7,457,798.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,783 shares of company stock valued at $37,536,717. 11.10% of the stock is currently owned by company insiders.

Danaher Stock Performance

Danaher stock traded down $1.25 during trading hours on Friday, hitting $243.54. The company had a trading volume of 2,982,627 shares, compared to its average volume of 3,074,608. The firm has a market cap of $180.39 billion, a PE ratio of 41.28, a PEG ratio of 3.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.85 and a quick ratio of 1.51. Danaher Co. has a one year low of $182.09 and a one year high of $269.11. The firm has a 50-day moving average of $254.76 and a 200 day moving average of $248.06.

Danaher (NYSE:DHR) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the prior year, the firm earned $2.36 EPS. The business’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that Danaher Co. will post 7.62 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.08 annualized dividend and a dividend yield of 0.44%. Danaher’s dividend payout ratio is presently 18.31%.

Danaher 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.