State of Michigan Retirement System Has $44.99 Million Stake in Danaher Co. (NYSE:DHR)

State of Michigan Retirement System lifted its holdings in shares of Danaher Co. (NYSE:DHR) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,146 shares of the conglomerate’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Danaher were worth $44,986,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DHR. Cary Street Partners Investment Advisory LLC grew its holdings in Danaher by 20.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 9,128 shares of the conglomerate’s stock valued at $2,112,000 after purchasing an additional 1,533 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Danaher by 0.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 26,611 shares of the conglomerate’s stock valued at $6,156,000 after purchasing an additional 149 shares during the period. Cercano Management LLC grew its holdings in Danaher by 11.4% during the fourth quarter. Cercano Management LLC now owns 202,569 shares of the conglomerate’s stock valued at $46,862,000 after purchasing an additional 20,715 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Danaher by 48.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 296,996 shares of the conglomerate’s stock valued at $68,707,000 after purchasing an additional 96,395 shares during the period. Finally, Caden Capital Partners LP grew its holdings in Danaher by 12.4% during the fourth quarter. Caden Capital Partners LP now owns 139,068 shares of the conglomerate’s stock valued at $32,172,000 after purchasing an additional 15,313 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Buying and Selling

In related news, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now directly owns 116,202 shares in the company, valued at $28,304,483.16. The sale was disclosed in a filing with the SEC, which is available through this link. In other Danaher news, Director Alan G. Spoon sold 708 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total value of $172,454.64. Following the transaction, the director now directly owns 116,202 shares in the company, valued at $28,304,483.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian W. Ellis sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $250.01, for a total transaction of $1,000,040.00. Following the completion of the transaction, the senior vice president now owns 29,830 shares in the company, valued at $7,457,798.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,783 shares of company stock worth $37,536,717. Insiders own 10.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DHR. Citigroup boosted their price objective on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TD Cowen lifted their price target on shares of Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Robert W. Baird lifted their price target on shares of Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Barclays lifted their price target on shares of Danaher from $260.00 to $270.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Danaher has a consensus rating of “Moderate Buy” and a consensus price target of $268.67.

Danaher Stock Down 1.7 %

Shares of DHR stock traded down $4.10 during trading on Tuesday, reaching $240.41. The company’s stock had a trading volume of 5,062,756 shares, compared to its average volume of 2,876,110. The business has a fifty day moving average price of $256.13 and a 200-day moving average price of $246.86. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31. The company has a market cap of $178.07 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 3.82 and a beta of 0.84. Danaher Co. has a one year low of $182.09 and a one year high of $269.11.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.62 billion. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 earnings per share. Analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.45%. Danaher’s payout ratio is 18.31%.

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.