King Luther Capital Management Corp Sells 2,354 Shares of Danaher Co. (NYSE:DHR)

King Luther Capital Management Corp cut its stake in shares of Danaher Co. (NYSE:DHR) by 0.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,681,550 shares of the conglomerate’s stock after selling 2,354 shares during the quarter. Danaher makes up 2.0% of King Luther Capital Management Corp’s portfolio, making the stock its 9th largest holding. King Luther Capital Management Corp’s holdings in Danaher were worth $467,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Danaher during the second quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in shares of Danaher during the second quarter valued at $25,000. MidAtlantic Capital Management Inc. acquired a new stake in Danaher in the third quarter worth about $40,000. MFA Wealth Advisors LLC acquired a new position in Danaher during the 2nd quarter valued at about $51,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Danaher during the 2nd quarter worth about $51,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Stock Performance

Shares of NYSE DHR opened at $233.10 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The business’s 50-day simple moving average is $259.67 and its 200-day simple moving average is $260.13. The firm has a market cap of $168.36 billion, a price-to-earnings ratio of 44.48, a P/E/G ratio of 4.24 and a beta of 0.85. Danaher Co. has a 52 week low of $213.61 and a 52 week high of $281.70.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Danaher Co. will post 7.51 earnings per share for the current fiscal year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Danaher’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling

In other Danaher news, SVP Georgeann Couchara sold 952 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the sale, the senior vice president now owns 4,212 shares in the company, valued at approximately $1,130,374.44. This trade represents a 18.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on DHR shares. Stephens reiterated an “overweight” rating and set a $315.00 price objective on shares of Danaher in a research note on Wednesday, October 23rd. Robert W. Baird cut their price objective on Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. UBS Group lowered their target price on Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. TD Cowen lifted their price objective on shares of Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their target price on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $287.16.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.