Cohen Klingenstein LLC Sells 7,400 Shares of Danaher Co. (NYSE:DHR)

Cohen Klingenstein LLC lowered its position in shares of Danaher Co. (NYSE:DHR - Free Report) by 43.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,600 shares of the conglomerate's stock after selling 7,400 shares during the quarter. Cohen Klingenstein LLC's holdings in Danaher were worth $2,204,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. FMR LLC increased its holdings in Danaher by 15.8% during the 3rd quarter. FMR LLC now owns 23,617,424 shares of the conglomerate's stock worth $6,566,116,000 after purchasing an additional 3,217,631 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Danaher by 17.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,582,982 shares of the conglomerate's stock valued at $996,141,000 after acquiring an additional 535,254 shares during the period. International Assets Investment Management LLC increased its stake in Danaher by 40,196.5% during the 3rd quarter. International Assets Investment Management LLC now owns 429,964 shares of the conglomerate's stock valued at $119,539,000 after buying an additional 428,897 shares during the period. Montrusco Bolton Investments Inc. lifted its position in Danaher by 30.4% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,705,884 shares of the conglomerate's stock worth $465,617,000 after purchasing an additional 397,671 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Danaher by 82.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 653,375 shares of the conglomerate's stock worth $181,651,000 after acquiring an additional 295,187 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Danaher Stock Performance

DHR traded down $3.49 during trading hours on Friday, reaching $238.41. The company's stock had a trading volume of 3,044,734 shares, compared to its average volume of 2,640,177. The firm has a market cap of $172.20 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 4.23 and a beta of 0.83. The company's 50-day moving average is $234.85 and its 200-day moving average is $253.42. Danaher Co. has a 52 week low of $222.53 and a 52 week high of $281.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37.

Danaher (NYSE:DHR - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the previous year, the company posted $2.02 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Danaher Co. will post 7.49 EPS for the current year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, December 27th. Danaher's dividend payout ratio (DPR) is currently 20.61%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wolfe Research upgraded shares of Danaher from a "peer perform" rating to an "outperform" rating and set a $285.00 price objective on the stock in a research note on Thursday, October 31st. Stephens reissued an "overweight" rating and set a $315.00 price objective on shares of Danaher in a research report on Wednesday, October 23rd. Scotiabank started coverage on Danaher in a research note on Monday, December 23rd. They set a "sector perform" rating and a $265.00 price target on the stock. Raymond James decreased their price objective on Danaher from $310.00 to $300.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective on Danaher from $275.00 to $278.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Danaher has an average rating of "Moderate Buy" and an average target price of $286.80.

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.