Bank of New York Mellon Corp Sells 899,447 Shares of Danaher Corporation $DHR

Bank of New York Mellon Corp reduced its stake in shares of Danaher Corporation (NYSE:DHR) by 19.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,828,208 shares of the conglomerate’s stock after selling 899,447 shares during the period. Bank of New York Mellon Corp’s holdings in Danaher were worth $725,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of Danaher during the third quarter worth $25,000. Elevated Capital Advisors LLC purchased a new position in Danaher during the fourth quarter valued at $26,000. WFA of San Diego LLC bought a new stake in Danaher in the 2nd quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new stake in Danaher in the 4th quarter valued at $27,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock worth $29,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE DHR opened at $204.93 on Friday. The business’s 50 day moving average price is $182.61 and its 200-day moving average price is $198.44. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The company has a market cap of $145.04 billion, a P/E ratio of 39.64, a P/E/G ratio of 2.47 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.Danaher’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. Sell-side analysts predict that Danaher Corporation will post 8.45 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, June 26th. Danaher’s dividend payout ratio (DPR) is 30.95%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DHR shares. Royal Bank Of Canada started coverage on Danaher in a research report on Thursday, May 14th. They set an “outperform” rating and a $200.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $245.00 target price on shares of Danaher in a research report on Tuesday, April 21st. HSBC dropped their price target on Danaher from $270.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Barclays cut their price target on Danaher from $250.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings raised Danaher from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.64.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.