Danaher Corporation $DHR Stock Holdings Reduced by Renaissance Investment Group LLC

Renaissance Investment Group LLC trimmed its position in shares of Danaher Corporation (NYSE:DHR) by 49.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,723 shares of the conglomerate’s stock after selling 16,582 shares during the quarter. Renaissance Investment Group LLC’s holdings in Danaher were worth $3,705,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DHR. Soltis Investment Advisors LLC increased its stake in Danaher by 44.3% in the 3rd quarter. Soltis Investment Advisors LLC now owns 3,966 shares of the conglomerate’s stock valued at $879,000 after buying an additional 1,217 shares during the last quarter. United Asset Strategies Inc. lifted its holdings in Danaher by 2.7% during the third quarter. United Asset Strategies Inc. now owns 32,645 shares of the conglomerate’s stock worth $7,233,000 after acquiring an additional 863 shares during the period. Choreo LLC lifted its holdings in Danaher by 29.2% during the third quarter. Choreo LLC now owns 19,885 shares of the conglomerate’s stock worth $4,405,000 after acquiring an additional 4,494 shares during the period. Sage Rhino Capital LLC purchased a new position in Danaher in the third quarter worth $211,000. Finally, Childress Capital Advisors LLC boosted its position in Danaher by 6.9% in the third quarter. Childress Capital Advisors LLC now owns 1,685 shares of the conglomerate’s stock worth $373,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Buying and Selling

In other Danaher news, CAO Christopher Bouda sold 7,598 shares of the company’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the sale, the chief accounting officer directly owned 9,107 shares of the company’s stock, valued at $2,136,137.92. This represents a 45.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.80% of the stock is currently owned by company insiders.

Danaher Stock Performance

Shares of DHR opened at $232.22 on Friday. The firm has a market cap of $163.37 billion, a PE ratio of 38.01, a PEG ratio of 2.98 and a beta of 0.76. The stock’s fifty day moving average price is $218.92 and its two-hundred day moving average price is $201.77. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.63 and a quick ratio of 1.29. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.19. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, equities research analysts forecast that Danaher Corporation will post 8.59 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Danaher’s payout ratio is currently 26.19%.

Analyst Upgrades and Downgrades

DHR has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Danaher from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Citigroup raised their price objective on shares of Danaher from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $275.00 price objective on shares of Danaher in a research report on Thursday, October 22nd. TD Cowen boosted their target price on shares of Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Royal Bank Of Canada boosted their target price on shares of Danaher from $215.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, October 5th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $242.91.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.

The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.