Bank of New York Mellon Corp Trims Stock Position in Danaher Corporation $DHR

Bank of New York Mellon Corp trimmed its holdings in Danaher Corporation (NYSE:DHR) by 28.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,047,764 shares of the conglomerate’s stock after selling 2,362,560 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of Danaher worth $1,199,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC increased its position in shares of Danaher by 1.6% during the second quarter. Ceredex Value Advisors LLC now owns 249,377 shares of the conglomerate’s stock worth $49,262,000 after acquiring an additional 3,862 shares during the period. Chicago Capital LLC grew its stake in Danaher by 11.6% during the 2nd quarter. Chicago Capital LLC now owns 13,332 shares of the conglomerate’s stock worth $2,634,000 after purchasing an additional 1,391 shares in the last quarter. Weitz Investment Management Inc. increased its holdings in Danaher by 6.1% during the 2nd quarter. Weitz Investment Management Inc. now owns 526,950 shares of the conglomerate’s stock worth $104,094,000 after purchasing an additional 30,300 shares during the period. Lockheed Martin Investment Management Co. raised its position in Danaher by 49.4% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 25,340 shares of the conglomerate’s stock valued at $5,024,000 after purchasing an additional 8,380 shares in the last quarter. Finally, Nvwm LLC boosted its stake in shares of Danaher by 20.4% in the 2nd quarter. Nvwm LLC now owns 7,093 shares of the conglomerate’s stock valued at $1,401,000 after buying an additional 1,204 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Trading Down 0.2%

NYSE DHR opened at $236.18 on Wednesday. The firm’s fifty day moving average price is $230.80 and its 200 day moving average price is $213.70. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $258.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.52 and a quick ratio of 1.10. The company has a market capitalization of $166.82 billion, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 3.60 and a beta of 0.89.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, December 26th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, December 26th. Danaher’s payout ratio is presently 26.39%.

Analyst Ratings Changes

A number of research firms recently weighed in on DHR. Morgan Stanley assumed coverage on shares of Danaher in a research note on Monday, December 1st. They set an “overweight” rating and a $270.00 target price on the stock. TD Cowen reiterated a “buy” rating on shares of Danaher in a report on Wednesday, January 7th. KeyCorp reissued an “overweight” rating on shares of Danaher in a research report on Thursday, December 18th. Evercore ISI reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Danaher in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Danaher from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Danaher has an average rating of “Moderate Buy” and an average price target of $252.09.

Insider Activity at Danaher

In other news, Director Teri List sold 3,298 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $226.50, for a total value of $746,997.00. Following the completion of the sale, the director directly owned 20,762 shares of the company’s stock, valued at approximately $4,702,593. This represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian W. Ellis sold 21,776 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $219.23, for a total transaction of $4,773,952.48. Following the transaction, the senior vice president owned 14,553 shares in the company, valued at approximately $3,190,454.19. This trade represents a 59.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,248 shares of company stock valued at $6,609,663 in the last three months. 11.20% of the stock is currently owned by company insiders.

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.