Griffin Asset Management Inc. Raises Stock Position in Danaher Corporation $DHR

Griffin Asset Management Inc. increased its position in shares of Danaher Corporation (NYSE:DHR) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,705 shares of the conglomerate’s stock after acquiring an additional 5,012 shares during the quarter. Danaher comprises 1.2% of Griffin Asset Management Inc.’s holdings, making the stock its 27th biggest position. Griffin Asset Management Inc.’s holdings in Danaher were worth $10,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DHR. JPL Wealth Management LLC purchased a new position in Danaher in the third quarter worth $25,000. Elevated Capital Advisors LLC purchased a new stake in shares of Danaher during the 4th quarter valued at $26,000. WFA of San Diego LLC acquired a new stake in shares of Danaher in the 2nd quarter worth $26,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher in the 4th quarter worth $27,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Danaher by 71.6% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock worth $29,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

NYSE DHR opened at $195.75 on Friday. The company has a market cap of $138.54 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 2.43 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.87 and a quick ratio of 1.52. The stock’s fifty day moving average price is $180.18 and its 200 day moving average price is $199.48. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $6 billion. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. As a group, equities research analysts forecast that Danaher Corporation will post 8.44 earnings per share for the current year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, June 26th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Danaher’s payout ratio is 30.95%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DHR. DZ Bank began coverage on Danaher in a research report on Wednesday, June 3rd. They set a “buy” rating and a $210.00 target price on the stock. Piper Sandler assumed coverage on Danaher in a report on Thursday, June 11th. They issued a “neutral” rating and a $200.00 price target for the company. UBS Group dropped their price target on Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Citigroup started coverage on shares of Danaher in a report on Tuesday, May 26th. They set a “buy” rating and a $230.00 price objective on the stock. Finally, Robert W. Baird decreased their price objective on shares of Danaher from $251.00 to $249.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.52.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.