NEW YORK (TheStreet) -- Shares of Danaher (DHR) - Get Report  closed at $80.40 on heavy trading volume after completing a spin-off of its Test & Measurement, Industrial Technologies and Retail/Commercial Petroleum segments into a new entity, Fortive (FTV).

The stock is down from its Friday close of $102.31 and down 19.70% for the week from June 30 to July 5.

Nearly 7.5 million shares of Danaher traded hands today, a 163% increase from the stock's average trading volume of 2.85 million shares per day. 

Danaher, based in Washington, DC, retains its life sciences, dental, diagnostics, water quality and product identification businesses in the split.

Fortive began trading today on the New York Stock Exchange under its new ticker FTV. The stock closed down 1.84% to $48.63 today. The company will be headquartered in Everett, WA.

Danaher shareholders will receive one share of Fortive for every two shares they hold of Danaher, and 345 million shares of the new company were distributed today in the separation.

The company hopes the split will allow both entities to focus on their respective growth strategies.

Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of A+.

The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, expanding profit margins and good cash flow from operations. Although no company is perfect, TheStreet Ratings does not see any significant weaknesses which are likely to detract from the generally positive outlook.

You can view the full analysis from the report here: DHR

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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