Cottage Street Advisors LLC Buys New Stake in Danaher Co. (DHR)

Cottage Street Advisors LLC bought a new stake in shares of Danaher Co. (NYSE:DHR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,907 shares of the conglomerate’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DHR. HL Financial Services LLC boosted its position in shares of Danaher by 0.4% in the first quarter. HL Financial Services LLC now owns 19,148 shares of the conglomerate’s stock worth $2,528,000 after purchasing an additional 79 shares during the period. First Personal Financial Services boosted its position in shares of Danaher by 13.7% in the first quarter. First Personal Financial Services now owns 664 shares of the conglomerate’s stock worth $88,000 after purchasing an additional 80 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Danaher by 5.6% in the first quarter. Carroll Financial Associates Inc. now owns 1,534 shares of the conglomerate’s stock worth $202,000 after purchasing an additional 82 shares during the period. Cookson Peirce & Co. Inc. boosted its position in shares of Danaher by 1.8% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,710 shares of the conglomerate’s stock worth $622,000 after purchasing an additional 83 shares during the period. Finally, Appleton Partners Inc. MA boosted its position in shares of Danaher by 1.4% in the first quarter. Appleton Partners Inc. MA now owns 6,434 shares of the conglomerate’s stock worth $849,000 after purchasing an additional 90 shares during the period. Institutional investors own 77.57% of the company’s stock.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Danaher from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Janney Montgomery Scott upped their price target on shares of Danaher from $136.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $140.00 price target on shares of Danaher in a research report on Monday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $138.00 price target (up from $114.00) on shares of Danaher in a research report on Thursday, February 28th. Finally, UBS Group upped their price target on shares of Danaher from $125.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $131.75.

DHR stock opened at $131.68 on Monday. Danaher Co. has a one year low of $94.59 and a one year high of $134.67. The company has a current ratio of 2.18, a quick ratio of 1.74 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $94.03 billion, a PE ratio of 29.13, a P/E/G ratio of 2.54 and a beta of 1.02.

Danaher (NYSE:DHR) last released its earnings results on Thursday, April 18th. The conglomerate reported $1.07 EPS for the quarter, topping the consensus estimate of $1.01 by $0.06. Danaher had a net margin of 12.04% and a return on equity of 11.61%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Danaher Co. will post 4.77 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, June 27th. Danaher’s dividend payout ratio (DPR) is presently 15.04%.

In related news, CEO Thomas Patrick Joyce, Jr. sold 3,082 shares of the company’s stock in a transaction on Sunday, February 24th. The shares were sold at an average price of $131.84, for a total transaction of $406,330.88. Following the sale, the chief executive officer now owns 302,377 shares of the company’s stock, valued at $39,865,383.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rainer Blair sold 37,859 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $127.45, for a total transaction of $4,825,129.55. Following the sale, the insider now directly owns 32,661 shares in the company, valued at approximately $4,162,644.45. The disclosure for this sale can be found here. Insiders sold 424,761 shares of company stock worth $54,983,097 in the last three months. Insiders own 11.40% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cottage Street Advisors LLC Buys New Stake in Danaher Co. (DHR)” was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/05/13/cottage-street-advisors-llc-buys-new-stake-in-danaher-co-dhr.html.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

Read More: What is a put option?

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Co. (NYSE:DHR).

Institutional Ownership by Quarter for Danaher (NYSE:DHR)

Receive News & Ratings for Danaher Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaher and related companies with MarketBeat.com's FREE daily email newsletter.