Bridge Creek Capital Management LLC Sells 43 Shares of Danaher Co. (NYSE:DHR)

Bridge Creek Capital Management LLC cut its holdings in Danaher Co. (NYSE:DHR) by 0.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,684 shares of the conglomerate’s stock after selling 43 shares during the period. Bridge Creek Capital Management LLC’s holdings in Danaher were worth $2,970,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Tsfg LLC boosted its holdings in shares of Danaher by 733.3% in the 1st quarter. Tsfg LLC now owns 100 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 88 shares during the period. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Danaher in the second quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in shares of Danaher during the 2nd quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in Danaher during the 1st quarter valued at $30,000. Finally, Richardson Financial Services Inc. bought a new position in Danaher in the 4th quarter valued at $42,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DHR. The Goldman Sachs Group boosted their target price on shares of Danaher from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their price objective on shares of Danaher from $271.00 to $278.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Stephens assumed coverage on shares of Danaher in a research report on Tuesday, October 1st. They set an “overweight” rating and a $315.00 target price on the stock. Stifel Nicolaus raised their price objective on Danaher from $235.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 target price on shares of Danaher in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.12.

Insider Activity

In related news, CFO Matthew Mcgrew sold 16,172 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the completion of the transaction, the chief financial officer now owns 29,407 shares of the company’s stock, valued at $8,229,254.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Danaher news, CFO Matthew Mcgrew sold 16,172 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the completion of the transaction, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at approximately $8,229,254.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian W. Ellis sold 9,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the sale, the senior vice president now directly owns 20,230 shares in the company, valued at $5,566,486.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,659 shares of company stock valued at $11,042,433 in the last ninety days. Insiders own 11.10% of the company’s stock.

Danaher Stock Performance

Danaher stock traded down $1.24 during mid-day trading on Tuesday, reaching $268.79. 1,153,297 shares of the company traded hands, compared to its average volume of 2,751,341. The company has a market capitalization of $199.09 billion, a price-to-earnings ratio of 45.56, a price-to-earnings-growth ratio of 4.55 and a beta of 0.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04. Danaher Co. has a fifty-two week low of $182.09 and a fifty-two week high of $281.70. The firm’s fifty day moving average is $271.07 and its two-hundred day moving average is $258.64.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts expect that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, September 27th. Danaher’s payout ratio is 18.31%.

Danaher Company 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.