Sumitomo Mitsui Trust Group Inc. Sells 3,163 Shares of Danaher Co. (NYSE:DHR)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Danaher Co. (NYSE:DHR - Free Report) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,929,360 shares of the conglomerate's stock after selling 3,163 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Danaher worth $536,401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DHR. CarsonAllaria Wealth Management Ltd. purchased a new stake in Danaher in the second quarter valued at approximately $25,000. nVerses Capital LLC acquired a new stake in Danaher in the second quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in Danaher in the second quarter valued at $51,000. Financial Connections Group Inc. acquired a new stake in Danaher in the second quarter valued at $51,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Danaher in the first quarter valued at $55,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Georgeann Couchara sold 952 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the sale, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.10% of the company's stock.

Danaher Stock Performance

Shares of NYSE:DHR traded down $3.15 during midday trading on Tuesday, reaching $240.10. 1,576,284 shares of the company traded hands, compared to its average volume of 2,742,095. The company has a quick ratio of 1.01, a current ratio of 1.37 and a debt-to-equity ratio of 0.32. Danaher Co. has a 12 month low of $193.75 and a 12 month high of $281.70. The firm has a market capitalization of $173.42 billion, a price-to-earnings ratio of 46.42, a price-to-earnings-growth ratio of 4.51 and a beta of 0.85. The firm's fifty day moving average price is $264.37 and its two-hundred day moving average price is $260.82.

Danaher (NYSE:DHR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.14. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The company's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.02 EPS. On average, equities analysts expect that Danaher Co. will post 7.51 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were given a dividend of $0.27 per share. The ex-dividend date was Friday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. Danaher's dividend payout ratio (DPR) is presently 20.61%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DHR. Robert W. Baird cut their price target on shares of Danaher from $278.00 to $277.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. KeyCorp increased their target price on shares of Danaher from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Barclays lowered their price target on shares of Danaher from $285.00 to $275.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Bank of America increased their target price on shares of Danaher from $270.00 to $275.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Finally, Stephens reiterated an "overweight" rating and issued a $315.00 target price on shares of Danaher in a research report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $287.16.

Danaher 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.