Quadrant Capital Group LLC has reduced its stake in Danaher Corporation (NYSE: DHR) by 20.8% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission. The investment firm now holds 12,882 shares of Danaher, having sold 3,378 shares within that period. As of the end of the latest reporting cycle, Quadrant’s holdings in Danaher were valued at approximately $2.54 million.
Several other institutional investors have also adjusted their positions in Danaher. Notably, Vanguard Group Inc. increased its holdings by 1.3% during the same quarter, now owning 60,769,587 shares worth about $12 billion after acquiring an additional 788,499 shares. Price T Rowe Associates Inc. also raised its position by 3.2%, bringing its total to 19,592,211 shares valued at around $4.02 billion.
Additionally, Geode Capital Management LLC saw a modest increase of 0.6% in its holdings, now owning 13,726,194 shares worth $2.7 billion. Generation Investment Management LLP made substantial gains, boosting its position by 56.2%, ending up with 4,965,646 shares valued at approximately $980.91 million. Franklin Resources Inc. also increased its stake by 4.0%, owning 4,822,442 shares worth about $952.63 million. Overall, institutional investors control 79.05% of Danaher’s stock.
Market Performance and Dividend Announcement
On October 31, 2023, Danaher Corporation’s stock opened at $228.41, reflecting a 1.0% decline. The company’s market capitalization stands at approximately $161.33 billion, with a price-to-earnings ratio of 47.09. Danaher also reported a quarterly dividend of $0.32 per share, which was paid to stockholders of record on September 26. This results in an annualized dividend of $1.28 and a yield of 0.6%, with a dividend payout ratio of 26.39%.
Analyst Ratings and Insider Trading Activity
Recent analyst reports indicate a generally positive outlook for Danaher. Barclays raised its price target from $225.00 to $250.00, maintaining an “overweight” rating. Conversely, Rothschild Redb downgraded its rating from “strong-buy” to “hold.”
As for insider activities, Senior Vice President Brian W. Ellis sold 21,776 shares on November 12 at an average price of $219.23, totaling nearly $4.77 million. Following this transaction, Ellis’s remaining shares are valued at approximately $3.19 million, marking a reduction of 59.94% in his ownership. Another senior vice president, Georgeann Couchara, sold 5,174 shares on November 10, resulting in a 66.34% ownership decrease.
In the last three months, Danaher insiders have sold a total of 30,248 shares valued at about $6.61 million. Insiders currently hold 11.10% of the company’s stock.
Danaher Corporation is a global leader in designing, manufacturing, and marketing a wide array of products and services across various sectors, including professional, medical, and industrial fields.
For those interested in tracking Danaher’s performance or the actions of other hedge funds, resources such as HoldingsChannel.com provide updated filings and insider trading information.
