SouthState Bank Corp Sells 3,485 Shares of Danaher Corporation $DHR

SouthState Bank Corp lessened its stake in Danaher Corporation (NYSE:DHR) by 3.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 95,021 shares of the conglomerate’s stock after selling 3,485 shares during the period. SouthState Bank Corp’s holdings in Danaher were worth $18,016,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in Danaher by 1.7% in the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after acquiring an additional 472,608 shares in the last quarter. Capital International Investors grew its holdings in shares of Danaher by 8.9% during the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate’s stock worth $4,177,386,000 after purchasing an additional 1,487,768 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Danaher by 9.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,973,240 shares of the conglomerate’s stock valued at $3,656,595,000 after purchasing an additional 1,334,221 shares during the period. Wellington Management Group LLP raised its stake in shares of Danaher by 11.2% in the fourth quarter. Wellington Management Group LLP now owns 15,076,796 shares of the conglomerate’s stock valued at $3,451,380,000 after purchasing an additional 1,517,904 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Danaher in the fourth quarter valued at $2,177,106,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DHR shares. Barclays decreased their price target on shares of Danaher from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. UBS Group dropped their price objective on shares of Danaher from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Royal Bank Of Canada started coverage on shares of Danaher in a research report on Thursday, May 14th. They set an “outperform” rating and a $200.00 target price on the stock. DZ Bank began coverage on shares of Danaher in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 target price on the stock. Finally, Wall Street Zen lowered shares of Danaher from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Danaher currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.64.

Danaher Stock Down 0.5%

Shares of NYSE:DHR opened at $199.06 on Wednesday. The company has a market capitalization of $140.89 billion, a PE ratio of 38.50, a P/E/G ratio of 2.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The company’s fifty day moving average is $181.51 and its 200-day moving average is $198.83. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80.

Danaher (NYSE:DHR) last released its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 earnings per share. Equities research analysts predict that Danaher Corporation will post 8.44 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, June 26th. Danaher’s dividend payout ratio is presently 30.95%.

About Danaher

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.