OLD National Bancorp IN Decreases Stake in Danaher Corporation $DHR

OLD National Bancorp IN trimmed its position in shares of Danaher Corporation (NYSE:DHR) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 73,387 shares of the conglomerate’s stock after selling 2,210 shares during the quarter. OLD National Bancorp IN’s holdings in Danaher were worth $14,550,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WFA of San Diego LLC acquired a new stake in Danaher in the second quarter valued at $26,000. Howard Hughes Medical Institute acquired a new position in Danaher in the 2nd quarter valued at about $27,000. Red Tortoise LLC lifted its position in Danaher by 175.0% during the 2nd quarter. Red Tortoise LLC now owns 154 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 98 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of Danaher in the 3rd quarter valued at approximately $37,000. Finally, Ramirez Asset Management Inc. acquired a new position in shares of Danaher in the second quarter valued at approximately $40,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Danaher news, Director Teri List sold 3,298 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $226.50, for a total value of $746,997.00. Following the sale, the director directly owned 20,762 shares of the company’s stock, valued at approximately $4,702,593. This trade represents a 13.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian W. Ellis sold 21,776 shares of Danaher stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $219.23, for a total value of $4,773,952.48. Following the completion of the sale, the senior vice president owned 14,553 shares of the company’s stock, valued at $3,190,454.19. This trade represents a 59.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 30,248 shares of company stock worth $6,609,663. 11.20% of the stock is owned by company insiders.

Danaher Price Performance

DHR stock opened at $228.09 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.33. The company has a market cap of $161.11 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.36 and a beta of 0.89. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $258.23. The firm has a 50 day moving average of $220.83 and a 200-day moving average of $207.36.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Monday, October 20th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6 billion. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 earnings per share. As a group, equities analysts expect that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, December 26th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, December 26th. Danaher’s dividend payout ratio is presently 26.39%.

Analysts Set New Price Targets

A number of research firms recently weighed in on DHR. JPMorgan Chase & Co. lifted their price objective on shares of Danaher from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Danaher from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Rothschild & Co Redburn reiterated a “neutral” rating and set a $220.00 price target (down from $245.00) on shares of Danaher in a research note on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Danaher in a research report on Tuesday, December 9th. They issued a “buy” rating and a $265.00 price objective for the company. Finally, Jefferies Financial Group boosted their target price on Danaher from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Twenty-one research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and an average price target of $248.25.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.