Cullinan Associates Inc. Has $449,000 Position in Danaher Co. (NYSE:DHR)

Cullinan Associates Inc. cut its stake in shares of Danaher Co. (NYSE:DHR) by 25.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,800 shares of the conglomerate’s stock after selling 600 shares during the quarter. Cullinan Associates Inc.’s holdings in Danaher were worth $449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Danaher by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 27,928,442 shares of the conglomerate’s stock valued at $6,460,966,000 after purchasing an additional 2,998,161 shares during the period. Price T Rowe Associates Inc. MD increased its position in Danaher by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,757,558 shares of the conglomerate’s stock valued at $3,876,694,000 after buying an additional 1,619,586 shares in the last quarter. Capital International Investors increased its position in Danaher by 9.1% in the 4th quarter. Capital International Investors now owns 15,956,519 shares of the conglomerate’s stock valued at $3,691,735,000 after buying an additional 1,334,781 shares in the last quarter. Norges Bank bought a new stake in Danaher in the 4th quarter valued at about $1,752,382,000. Finally, Franklin Resources Inc. increased its position in Danaher by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 6,620,170 shares of the conglomerate’s stock valued at $1,531,510,000 after buying an additional 395,498 shares in the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Trading Down 1.7 %

NYSE:DHR opened at $240.41 on Wednesday. Danaher Co. has a 12 month low of $182.09 and a 12 month high of $269.11. The firm has a fifty day simple moving average of $256.13 and a 200-day simple moving average of $246.86. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $178.07 billion, a P/E ratio of 40.75, a PEG ratio of 3.82 and a beta of 0.84.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. Danaher had a net margin of 16.78% and a return on equity of 11.43%. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.62 billion. During the same quarter last year, the company posted $2.36 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be issued a $0.27 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.45%. Danaher’s payout ratio is 18.31%.

Analyst Ratings Changes

Several brokerages have recently commented on DHR. StockNews.com downgraded Danaher from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. Evercore ISI lowered their price objective on Danaher from $266.00 to $260.00 and set an “outperform” rating for the company in a research note on Tuesday. Robert W. Baird increased their price target on Danaher from $259.00 to $271.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen increased their price target on Danaher from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group initiated coverage on Danaher in a research report on Monday, June 3rd. They set a “buy” rating and a $295.00 price target for the company. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $268.67.

Insider Transactions at Danaher

In other news, CEO Rainer Blair sold 9,005 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $265.00, for a total transaction of $2,386,325.00. Following the completion of the sale, the chief executive officer now owns 106,990 shares of the company’s stock, valued at $28,352,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Matthew Mcgrew sold 46,377 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $253.05, for a total transaction of $11,735,699.85. Following the transaction, the chief financial officer now directly owns 29,407 shares in the company, valued at $7,441,441.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rainer Blair sold 9,005 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $265.00, for a total transaction of $2,386,325.00. Following the completion of the transaction, the chief executive officer now owns 106,990 shares in the company, valued at $28,352,350. The disclosure for this sale can be found here. Insiders sold 148,783 shares of company stock valued at $37,536,717 over the last 90 days. Corporate insiders own 10.90% of the company’s stock.

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.