King Luther Capital Management Corp Sells 12,878 Shares of Danaher Co. (NYSE:DHR)

King Luther Capital Management Corp cut its position in Danaher Co. (NYSE:DHR) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,683,904 shares of the conglomerate’s stock after selling 12,878 shares during the quarter. Danaher accounts for about 1.9% of King Luther Capital Management Corp’s portfolio, making the stock its 10th largest holding. King Luther Capital Management Corp owned about 0.23% of Danaher worth $420,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cape Investment Advisory Inc. acquired a new position in Danaher during the fourth quarter valued at approximately $25,000. Tsfg LLC increased its stake in shares of Danaher by 733.3% in the 1st quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock valued at $25,000 after purchasing an additional 88 shares during the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Danaher during the 2nd quarter worth $25,000. nVerses Capital LLC acquired a new stake in Danaher in the second quarter valued at about $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in Danaher in the first quarter valued at about $30,000. Institutional investors own 79.05% of the company’s stock.

Danaher Trading Up 1.7 %

Shares of Danaher stock opened at $276.43 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.04 and a current ratio of 1.43. Danaher Co. has a 52 week low of $182.09 and a 52 week high of $281.70. The stock has a 50 day moving average price of $267.10 and a two-hundred day moving average price of $257.03. The stock has a market capitalization of $204.75 billion, a PE ratio of 46.85, a price-to-earnings-growth ratio of 4.48 and a beta of 0.83.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter in the previous year, the business posted $2.05 EPS. Danaher’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, September 27th. Danaher’s dividend payout ratio (DPR) is presently 18.31%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price target on Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. TD Cowen upped their price target on shares of Danaher from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays lifted their price target on shares of Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Leerink Partners increased their price objective on Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 target price on shares of Danaher in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and an average target price of $278.94.

Insider Activity

In other Danaher news, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the transaction, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Matthew Mcgrew sold 16,172 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the completion of the sale, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rainer Blair sold 9,007 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the completion of the transaction, the chief executive officer now directly owns 97,983 shares in the company, valued at $27,435,240. The disclosure for this sale can be found here. Insiders have sold 39,659 shares of company stock worth $11,042,433 over the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

About Danaher

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.