M.D. Sass LLC Sells 23,430 Shares of Danaher Co. (NYSE:DHR)

M.D. Sass LLC lessened its holdings in shares of Danaher Co. (NYSE:DHR) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,248 shares of the conglomerate’s stock after selling 23,430 shares during the quarter. Danaher makes up 3.6% of M.D. Sass LLC’s portfolio, making the stock its 15th biggest position. M.D. Sass LLC’s holdings in Danaher were worth $49,000,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Fort Pitt Capital Group LLC boosted its stake in shares of Danaher by 3.2% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock valued at $66,194,000 after purchasing an additional 7,421 shares in the last quarter. Good Life Advisors LLC purchased a new position in shares of Danaher during the 3rd quarter worth approximately $217,000. Oak Thistle LLC bought a new position in shares of Danaher in the 2nd quarter worth approximately $363,000. Harvest Portfolios Group Inc. lifted its stake in shares of Danaher by 1.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock valued at $56,233,000 after purchasing an additional 2,465 shares during the period. Finally, Diversified Trust Co boosted its position 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 in the last quarter. Institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

Danaher stock traded down $2.86 during midday trading on Tuesday, reaching $234.82. 453,653 shares of the company traded hands, compared to its average volume of 2,758,392. Danaher Co. has a 12 month low of $215.68 and a 12 month high of $281.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The business has a 50 day moving average of $257.38 and a two-hundred day moving average of $259.93. The firm has a market capitalization of $169.61 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 4.34 and a beta of 0.85.

Danaher (NYSE:DHR) last released its quarterly earnings results 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. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the prior year, the firm earned $2.02 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict that Danaher Co. will post 7.5 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were paid 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 0.46%. Danaher’s dividend payout ratio is currently 20.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on DHR shares. Wells Fargo & Company began coverage on Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective for the company. TD Cowen boosted their price objective on shares of Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. KeyCorp raised their target price on shares of Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Raymond James lowered their target price on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Stephens restated an “overweight” rating and issued a $315.00 price target on shares of Danaher in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Danaher has an average rating of “Moderate Buy” and a consensus price target of $287.16.

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.