Payden & Rygel Investment Group Invests $250,000 in Danaher Co. (NYSE:DHR)

Payden & Rygel Investment Group bought a new position in Danaher Co. (NYSE:DHR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the conglomerate’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cape Investment Advisory Inc. bought a new position in shares of Danaher in the fourth quarter worth approximately $25,000. Tsfg LLC lifted its stake in Danaher by 733.3% in the first quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock worth $25,000 after acquiring an additional 88 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Danaher in the fourth quarter worth $29,000. Redmont Wealth Advisors LLC purchased a new stake in Danaher in the first quarter worth $30,000. Finally, Rakuten Securities Inc. purchased a new stake in Danaher in the fourth quarter worth $36,000. Institutional investors own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DHR shares. Bank of America raised their price target on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com lowered Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Barclays raised their price objective on Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday. TD Cowen lifted their price target on Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Evercore ISI lowered their price target on Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.88.

Danaher Price Performance

NYSE DHR traded up $4.33 during trading hours on Thursday, reaching $270.09. The company’s stock had a trading volume of 4,179,004 shares, compared to its average volume of 2,922,821. The firm’s 50-day moving average price is $254.99 and its 200-day moving average price is $248.82. The company has a quick ratio of 1.51, a current ratio of 1.85 and a debt-to-equity ratio of 0.31. Danaher Co. has a 1 year low of $182.09 and a 1 year high of $276.31. The company has a market capitalization of $200.05 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 4.11 and a beta of 0.83.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. The business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a return on equity of 10.90% and a net margin of 16.94%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. On average, equities research analysts predict that Danaher Co. will post 7.62 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.08 annualized dividend and a dividend yield of 0.40%. Danaher’s dividend payout ratio (DPR) is 18.31%.

Insider Transactions at Danaher

In other news, Director Alan G. Spoon sold 708 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $243.58, for a total transaction of $172,454.64. Following the transaction, the director now owns 116,202 shares of the company’s stock, valued at approximately $28,304,483.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Danaher news, CFO Matthew Mcgrew sold 46,377 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $253.05, for a total value of $11,735,699.85. Following the transaction, the chief financial officer now owns 29,407 shares of the company’s stock, valued at approximately $7,441,441.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 116,202 shares in the company, valued at approximately $28,304,483.16. The disclosure for this sale can be found here. Insiders have sold 75,175 shares of company stock valued at $19,161,154 in the last ninety days. Corporate insiders own 11.10% of the company’s stock.

Danaher Company 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.