Genesee Valley Trust Co. reduced its position in Danaher Corp. (NYSE:DHR) by 12.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,301 shares of the company’s stock after selling 1,476 shares during the period. Genesee Valley Trust Co.’s holdings in Danaher Corp. were worth $1,040,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of DHR. Cribstone Capital Management LLC purchased a new stake in shares of Danaher Corp. during the second quarter worth about $132,000. Monetary Management Group Inc. raised its stake in shares of Danaher Corp. by 366.7% in the first quarter. Monetary Management Group Inc. now owns 1,400 shares of the company’s stock worth $133,000 after buying an additional 1,100 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of Danaher Corp. during the second quarter worth about $179,000. Carnick & Kubik LLC purchased a new stake in shares of Danaher Corp. during the first quarter worth about $171,000. Finally, Washington Trust Bank raised its stake in shares of Danaher Corp. by 88.4% in the second quarter. Washington Trust Bank now owns 1,950 shares of the company’s stock worth $197,000 after buying an additional 915 shares in the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
Danaher Corp. (NYSE:DHR) traded down 1.28% during midday trading on Monday, hitting $76.60. The company had a trading volume of 3,196,345 shares. The firm has a market cap of $52.90 billion, a price-to-earnings ratio of 15.23 and a beta of 1.13. The stock has a 50 day moving average of $79.57 and a 200 day moving average of $76.26. Danaher Corp. has a 52-week low of $61.60 and a 52-week high of $82.64.
Danaher Corp. (NYSE:DHR) last issued its earnings results on Monday, July 25th. The company reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.03. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The company earned $5.80 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. Danaher Corp.’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, analysts anticipate that Danaher Corp. will post $3.56 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 0.65%. Danaher Corp.’s payout ratio is currently 12.72%.
A number of brokerages have recently issued reports on DHR. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Danaher Corp. in a research note on Saturday, July 9th. Bank of America Corp. reaffirmed a “buy” rating on shares of Danaher Corp. in a research note on Sunday, May 29th. Citigroup Inc. lifted their price target on Danaher Corp. from $102.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, June 13th. Jefferies Group reaffirmed a “buy” rating and issued a $92.00 price target (down from $105.00) on shares of Danaher Corp. in a research note on Friday, July 15th. Finally, Barclays PLC boosted their price objective on Danaher Corp. from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 7th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Danaher Corp. has a consensus rating of “Buy” and an average target price of $95.22.
In other Danaher Corp. news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of Danaher Corp. stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $81.44, for a total value of $3,737,851.68. Following the completion of the transaction, the insider now directly owns 179,054 shares in the company, valued at $14,582,157.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel L. Comas sold 96,446 shares of Danaher Corp. stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total value of $7,800,552.48. Following the completion of the transaction, the chief financial officer now owns 215,716 shares of the company’s stock, valued at $17,447,110.08. The disclosure for this sale can be found here. 12.60% of the stock is owned by company insiders.
Danaher Corp. Company Profile
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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