Cohen Klingenstein LLC Decreases Stake in Danaher Co. (NYSE:DHR)

Cohen Klingenstein LLC decreased its holdings in shares of Danaher Co. (NYSE:DHR) by 43.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,600 shares of the conglomerate’s stock after selling 7,400 shares during the quarter. Cohen Klingenstein LLC’s holdings in Danaher were worth $2,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Coronation Fund Managers Ltd. grew its holdings in shares of Danaher by 29.9% in the second quarter. Coronation Fund Managers Ltd. now owns 6,389 shares of the conglomerate’s stock valued at $1,596,000 after purchasing an additional 1,470 shares during the period. Moors & Cabot Inc. lifted its position in shares of Danaher by 14.0% during the second quarter. Moors & Cabot Inc. now owns 2,540 shares of the conglomerate’s stock worth $635,000 after purchasing an additional 311 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Danaher by 31.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 56,282 shares of the conglomerate’s stock valued at $14,062,000 after purchasing an additional 13,576 shares in the last quarter. Ieq Capital LLC increased its stake in Danaher by 16.5% during the 2nd quarter. Ieq Capital LLC now owns 35,628 shares of the conglomerate’s stock worth $8,902,000 after buying an additional 5,034 shares during the period. Finally, Trust Investment Advisors increased its position in shares of Danaher by 2.7% during the second quarter. Trust Investment Advisors now owns 2,881 shares of the conglomerate’s stock worth $720,000 after acquiring an additional 76 shares during the period. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DHR shares. Stephens reiterated an “overweight” rating and issued a $315.00 price target on shares of Danaher in a research note on Wednesday, October 23rd. UBS Group reduced their price target on shares of Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Guggenheim began coverage on Danaher in a report on Thursday, December 19th. They set a “buy” rating and a $275.00 price objective on the stock. StockNews.com cut Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Finally, Bank of America raised Danaher from a “neutral” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.80.

Danaher Stock Down 1.4 %

DHR stock opened at $238.41 on Friday. Danaher Co. has a one year low of $222.53 and a one year high of $281.70. The stock has a market capitalization of $172.20 billion, a P/E ratio of 45.50, a PEG ratio of 4.23 and a beta of 0.83. The company has a 50 day moving average price of $234.99 and a two-hundred day moving average price of $253.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. Danaher’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business earned $2.02 EPS. As a group, sell-side analysts expect that Danaher Co. will post 7.49 EPS for the current year.

Danaher Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.45%. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

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.