Essex Savings Bank lifted its position in shares of Danaher Co. (NYSE:DHR) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,064 shares of the conglomerate’s stock after acquiring an additional 115 shares during the quarter. Essex Savings Bank’s holdings in Danaher were worth $896,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of DHR. Lion Street Advisors LLC purchased a new stake in shares of Danaher during the 1st quarter worth about $25,000. Howe & Rusling Inc. boosted its stake in shares of Danaher by 81.4% during the 2nd quarter. Howe & Rusling Inc. now owns 156 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 70 shares in the last quarter. Manchester Financial Inc. boosted its stake in shares of Danaher by 50.0% during the 1st quarter. Manchester Financial Inc. now owns 228 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 76 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new stake in shares of Danaher during the 2nd quarter worth about $35,000. Finally, Trustcore Financial Services LLC boosted its stake in shares of Danaher by 36.9% during the 2nd quarter. Trustcore Financial Services LLC now owns 230 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 62 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Mitchell P. Rales purchased 1,226 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $163.00 per share, with a total value of $199,838.00. Following the purchase, the chairman now directly owns 2,236,454 shares in the company, valued at approximately $364,542,002. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP William King sold 26,982 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $199.09, for a total transaction of $5,371,846.38. Following the completion of the sale, the senior vice president now directly owns 29,821 shares of the company’s stock, valued at approximately $5,937,062.89. The disclosure for this sale can be found here. In the last three months, insiders sold 498,929 shares of company stock valued at $94,446,919. Corporate insiders own 11.70% of the company’s stock.
Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, July 23rd. The conglomerate reported $1.44 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.35. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.01 billion. Danaher had a net margin of 17.73% and a return on equity of 11.88%. Danaher’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, analysts forecast that Danaher Co. will post 5.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, June 26th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.72 annualized dividend and a dividend yield of 0.35%. Danaher’s dividend payout ratio (DPR) is 16.29%.
Several research firms have recently issued reports on DHR. Wells Fargo & Co increased their target price on shares of Danaher from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Robert W. Baird upped their price target on shares of Danaher from $163.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Stifel Nicolaus upped their price target on shares of Danaher from $170.00 to $210.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. UBS Group upped their price target on shares of Danaher from $176.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Wolfe Research upgraded shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $195.00 price target for the company in a research report on Tuesday, June 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $197.73.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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