Corebridge Financial Inc. Trims Stake in Danaher Co. (NYSE:DHR)

Corebridge Financial Inc. trimmed its position in Danaher Co. (NYSE:DHR - Free Report) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 165,066 shares of the conglomerate's stock after selling 7,065 shares during the period. Corebridge Financial Inc.'s holdings in Danaher were worth $37,891,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Gilbert & Cook Inc. boosted its stake in shares of Danaher by 2.5% during the fourth quarter. Gilbert & Cook Inc. now owns 1,749 shares of the conglomerate's stock valued at $401,000 after purchasing an additional 42 shares in the last quarter. Grimes & Company Inc. boosted its position in Danaher by 0.6% during the 4th quarter. Grimes & Company Inc. now owns 7,390 shares of the conglomerate's stock worth $1,696,000 after buying an additional 43 shares during the period. Dakota Community Bank & Trust NA grew its holdings in Danaher by 16.4% during the 4th quarter. Dakota Community Bank & Trust NA now owns 320 shares of the conglomerate's stock worth $73,000 after acquiring an additional 45 shares during the last quarter. Howard Capital Management Group LLC increased its position in Danaher by 4.1% in the 3rd quarter. Howard Capital Management Group LLC now owns 1,229 shares of the conglomerate's stock valued at $342,000 after acquiring an additional 48 shares during the period. Finally, Spinnaker Trust raised its stake in shares of Danaher by 1.2% during the fourth quarter. Spinnaker Trust now owns 4,304 shares of the conglomerate's stock valued at $988,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company's stock.

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Danaher Stock Performance

Danaher stock traded down $4.43 during mid-day trading on Friday, reaching $205.69. 2,388,883 shares of the company's stock were exchanged, compared to its average volume of 3,186,485. The firm has a market capitalization of $147.01 billion, a PE ratio of 38.96, a P/E/G ratio of 2.66 and a beta of 0.82. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.31. The business's fifty day simple moving average is $214.57 and its 200 day simple moving average is $236.90. Danaher Co. has a one year low of $196.80 and a one year high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.14. Danaher had a net margin of 16.33% and a return on equity of 10.82%. During the same period last year, the company earned $2.09 EPS. On average, sell-side analysts expect that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be issued a $0.32 dividend. This is a positive change from Danaher's previous quarterly dividend of $0.27. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, March 28th. Danaher's dividend payout ratio (DPR) is presently 24.24%.

Insider Activity

In other Danaher news, SVP Brian W. Ellis sold 5,700 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $224.13, for a total value of $1,277,541.00. Following the completion of the transaction, the senior vice president now owns 20,230 shares in the company, valued at $4,534,149.90. This trade represents a 21.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DHR. The Goldman Sachs Group raised shares of Danaher from a "neutral" rating to a "buy" rating and set a $260.00 price objective on the stock in a research note on Friday, March 21st. Citigroup decreased their price target on Danaher from $285.00 to $265.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company cut their price objective on Danaher from $280.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group reduced their target price on Danaher from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Guggenheim began coverage on shares of Danaher in a report on Thursday, December 19th. They set a "buy" rating and a $275.00 price target for the company. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $278.24.

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.