Storen Legacy Partners LLC Takes Position in Danaher Corporation $DHR

Storen Legacy Partners LLC bought a new position in shares of Danaher Corporation (NYSE:DHR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,674 shares of the conglomerate’s stock, valued at approximately $3,359,000. Danaher accounts for approximately 1.1% of Storen Legacy Partners LLC’s portfolio, making the stock its 14th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG increased its stake in shares of Danaher by 25.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock worth $83,895,000 after purchasing an additional 74,301 shares during the period. Maxi Investments CY Ltd bought a new stake in Danaher in the 3rd quarter valued at $3,251,000. Northwestern Mutual Wealth Management Co. boosted its stake in Danaher by 303.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 248,020 shares of the conglomerate’s stock valued at $56,777,000 after purchasing an additional 186,584 shares during the period. Defender Capital LLC. acquired a new position in Danaher in the 4th quarter valued at $35,715,000. Finally, CIBC Bancorp USA Inc. bought a new position in Danaher during the 3rd quarter worth $17,480,000. Institutional investors own 79.05% of the company’s stock.

Danaher Stock Up 0.3%

DHR stock opened at $177.74 on Friday. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The business has a 50-day simple moving average of $179.62 and a 200 day simple moving average of $203.07. The company has a quick ratio of 1.52, a current ratio of 1.87 and a debt-to-equity ratio of 0.33. The company has a market cap of $125.80 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Danaher had a net margin of 14.89% and a return on equity of 10.91%. The firm had revenue of $5.95 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Danaher Corporation will post 8.45 EPS for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 26th. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. Danaher’s dividend payout ratio (DPR) is currently 30.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Danaher from $251.00 to $249.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Rothschild & Co Redburn set a $205.00 price target on shares of Danaher in a research report on Friday, April 17th. Wolfe Research cut shares of Danaher from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 1st. Guggenheim cut their price objective on shares of Danaher from $275.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Danaher from $240.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $233.61.

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.