Allspring Global Investments Holdings LLC Decreases Stake in Danaher Corporation $DHR

Allspring Global Investments Holdings LLC lessened its position in shares of Danaher Corporation (NYSE:DHR) by 2.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 473,207 shares of the conglomerate’s stock after selling 12,254 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Danaher worth $90,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its holdings in shares of Danaher by 25.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock valued at $83,895,000 after purchasing an additional 74,301 shares during the last quarter. Defender Capital LLC. purchased a new position in Danaher during the 4th quarter worth approximately $35,715,000. Northwestern Mutual Wealth Management Co. increased its position in Danaher by 303.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock worth $56,777,000 after buying an additional 186,584 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Danaher during the third quarter worth approximately $17,480,000. Finally, Coastline Trust Co lifted its stake in Danaher by 71.5% in the fourth quarter. Coastline Trust Co now owns 12,746 shares of the conglomerate’s stock valued at $2,918,000 after buying an additional 5,312 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Performance

DHR opened at $203.65 on Friday. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The stock has a market cap of $144.14 billion, a P/E ratio of 39.39, a P/E/G ratio of 2.53 and a beta of 0.79. The stock’s 50 day simple moving average is $183.27 and its 200 day simple moving average is $198.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.12. The firm had revenue of $5.95 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $1.88 earnings per share. As a group, equities analysts anticipate that Danaher Corporation will post 8.45 EPS for the current fiscal year.

Danaher Announces Dividend

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

Wall Street Analyst Weigh In

DHR has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price objective on Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a report on Monday, April 13th. Argus reduced their price target on shares of Danaher from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 24th. TD Cowen decreased their price target on shares of Danaher from $245.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Robert W. Baird lowered their price objective on shares of Danaher from $251.00 to $249.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Finally, Barclays dropped their price objective on shares of Danaher from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.64.

Danaher Company Profile

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.