King Luther Capital Management Corp Sells 118,264 Shares of Danaher Corporation $DHR

King Luther Capital Management Corp trimmed its holdings in shares of Danaher Corporation (NYSE:DHR) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964,840 shares of the conglomerate’s stock after selling 118,264 shares during the period. Danaher comprises approximately 0.9% of King Luther Capital Management Corp’s holdings, making the stock its 28th biggest holding. King Luther Capital Management Corp’s holdings in Danaher were worth $213,760,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Danaher in the 2nd quarter valued at approximately $10,492,520,000. Jupiter Topco LLC acquired a new stake in Danaher during the 2nd quarter valued at $1,456,317,000. Generation Investment Management LLP purchased a new position in Danaher during the second quarter worth $1,287,949,000. Bank of America Corp DE purchased a new position in Danaher during the second quarter worth $993,846,000. Finally, Legal & General Group Plc purchased a new position in Danaher during the second quarter worth $801,056,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Danaher news, CAO Christopher Bouda sold 7,598 shares of Danaher stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $234.56, for a total value of $1,782,186.88. Following the transaction, the chief accounting officer owned 9,107 shares in the company, valued at $2,136,137.92. This trade represents a 45.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory Milosevich sold 2,100 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $230.62, for a total transaction of $484,302.00. Following the sale, the executive vice president directly owned 22,367 shares of the company’s stock, valued at $5,158,277.54. This represents a 8.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.80% of the stock is owned by company insiders.

Danaher Trading Down 0.3%

Shares of DHR stock opened at $235.47 on Thursday. The firm’s 50-day simple moving average is $221.67 and its 200-day simple moving average is $201.56. 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. The firm has a market cap of $165.66 billion, a P/E ratio of 38.54, a PEG ratio of 2.96 and a beta of 0.76.

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

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher’s dividend payout ratio (DPR) is currently 26.19%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DHR. Barclays boosted their price target on Danaher from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Wells Fargo & Company decreased their price objective on Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Danaher from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. The Goldman Sachs Group reiterated a “buy” rating and set a $275.00 price objective on shares of Danaher in a research report on Thursday, October 22nd. Finally, UBS Group reissued a “buy” rating and issued a $260.00 target price on shares of Danaher in a research note on Thursday, October 22nd. Eighteen 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 a consensus target price of $242.91.

Danaher Company Profile

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company’s businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.