Danaher Co. (NYSE:DHR) Stock Position Reduced by Allstate Corp

Allstate Corp lessened its position in shares of Danaher Co. (NYSE:DHR) by 20.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,116 shares of the conglomerate’s stock after selling 530 shares during the quarter. Allstate Corp’s holdings in Danaher were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Banco Santander S.A. bought a new position in Danaher during the 3rd quarter worth approximately $683,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Danaher by 20.2% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock worth $2,112,000 after buying an additional 1,533 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings 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 worth $6,156,000 after purchasing an additional 149 shares during the last quarter. Cercano Management LLC lifted its holdings in shares of Danaher by 11.4% in the 4th quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock worth $46,862,000 after purchasing an additional 20,715 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings 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 worth $68,707,000 after purchasing an additional 96,395 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Insider Buying and Selling at Danaher

In related news, Director Alan G. Spoon sold 708 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total transaction of $172,454.64. Following the completion of the sale, the director now owns 116,202 shares in the company, valued at approximately $28,304,483.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Danaher news, Director Alan G. Spoon sold 708 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total value of $172,454.64. Following the completion of the transaction, the director now owns 116,202 shares of the company’s stock, valued at approximately $28,304,483.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rainer Blair sold 9,005 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $265.00, for a total value of $2,386,325.00. Following the completion of the transaction, the chief executive officer now directly owns 106,990 shares of the company’s stock, valued at approximately $28,352,350. The disclosure for this sale can be found here. Insiders have sold 172,540 shares of company stock worth $43,523,481 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Danaher Stock Down 0.7 %

Shares of Danaher stock traded down $1.94 during midday trading on Thursday, hitting $265.25. The company’s stock had a trading volume of 1,075,007 shares, compared to its average volume of 2,680,774. The firm has a market capitalization of $196.47 billion, a P/E ratio of 45.31, a PEG ratio of 4.08 and a beta of 0.83. The stock has a 50-day simple moving average of $249.54 and a 200-day simple moving average of $238.04. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31. Danaher Co. has a 1-year low of $182.09 and a 1-year high of $268.98.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, topping the consensus estimate of $1.72 by $0.20. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Danaher had a return on equity of 11.43% and a net margin of 16.78%. Danaher’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.36 earnings per share. As a group, sell-side analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.41%. Danaher’s payout ratio is 18.31%.

Wall Street Analysts Forecast Growth

DHR has been the topic of several recent research reports. Barclays raised their price target on Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. Bank of America lifted their target price on Danaher from $258.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. KeyCorp lifted their target price on Danaher from $260.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. StockNews.com downgraded Danaher from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada lifted their target price on Danaher from $254.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Danaher has a consensus rating of “Moderate Buy” and an average target price of $267.31.

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.