Washington Trust Bank Raises Stake in Danaher Co. (DHR)

Washington Trust Bank lifted its stake in Danaher Co. (NYSE:DHR) by 41.5% during the first quarter, Holdings Channel reports. The fund owned 1,244 shares of the conglomerate’s stock after buying an additional 365 shares during the period. Washington Trust Bank’s holdings in Danaher were worth $164,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DHR. Laurel Wealth Advisors LLC acquired a new position in Danaher during the fourth quarter worth approximately $27,000. CX Institutional increased its position in Danaher by 188.7% during the first quarter. CX Institutional now owns 205 shares of the conglomerate’s stock worth $27,000 after buying an additional 134 shares during the last quarter. Hanson McClain Inc. increased its position in Danaher by 852.9% during the fourth quarter. Hanson McClain Inc. now owns 324 shares of the conglomerate’s stock worth $33,000 after buying an additional 290 shares during the last quarter. Executive Wealth Management LLC acquired a new position in Danaher during the fourth quarter worth approximately $39,000. Finally, Ruggie Capital Group acquired a new position in Danaher during the fourth quarter worth approximately $40,000. 77.58% of the stock is currently owned by institutional investors and hedge funds.

Danaher stock opened at $131.50 on Thursday. Danaher Co. has a 12 month low of $94.59 and a 12 month high of $134.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.07 and a current ratio of 1.47. The company has a market capitalization of $94.35 billion, a PE ratio of 29.09, a PEG ratio of 2.41 and a beta of 1.04.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, January 29th. The conglomerate reported $1.28 EPS for the quarter, beating the consensus estimate of $1.27 by $0.01. Danaher had a return on equity of 11.64% and a net margin of 13.33%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts anticipate that Danaher Co. will post 4.79 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a $0.17 dividend. This is a boost from Danaher’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, March 28th. Danaher’s payout ratio is 15.04%.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Danaher from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a research report on Tuesday. Cowen reissued a “buy” rating and set a $110.00 price target on shares of Danaher in a research report on Monday, January 7th. Deutsche Bank upped their target price on Danaher to $130.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 target price on shares of Danaher in a research report on Wednesday, December 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $138.00 target price (up previously from $114.00) on shares of Danaher in a research report on Thursday, February 28th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $125.46.

In related news, EVP Daniel L. Comas sold 97,357 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $127.04, for a total value of $12,368,233.28. Following the completion of the sale, the executive vice president now directly owns 134,039 shares in the company, valued at $17,028,314.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Angela S. Lalor sold 4,534 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $127.25, for a total value of $576,951.50. Following the completion of the sale, the senior vice president now owns 21,209 shares of the company’s stock, valued at $2,698,845.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 183,150 shares of company stock valued at $23,279,637. 11.90% of the stock is currently owned by corporate insiders.

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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.

Further Reading: Why is the ex-dividend date different from the record date?

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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