Welch & Forbes LLC boosted its position in Danaher Corporation (NYSE:DHR) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 735,504 shares of the conglomerate’s stock after purchasing an additional 5,989 shares during the quarter. Danaher Corporation comprises about 1.7% of Welch & Forbes LLC’s holdings, making the stock its 12th largest position. Welch & Forbes LLC owned 0.11% of Danaher Corporation worth $62,069,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in DHR. Waldron LP acquired a new position in Danaher Corporation in the 1st quarter valued at about $320,000. Breton Hill Capital Ltd. raised its stake in Danaher Corporation by 285.4% in the 1st quarter. Breton Hill Capital Ltd. now owns 12,199 shares of the conglomerate’s stock valued at $1,043,000 after purchasing an additional 9,034 shares during the last quarter. Dillon & Associates Inc. raised its stake in Danaher Corporation by 20.4% in the 1st quarter. Dillon & Associates Inc. now owns 34,956 shares of the conglomerate’s stock valued at $3,006,000 after purchasing an additional 5,922 shares during the last quarter. First Merchants Corp raised its stake in Danaher Corporation by 0.3% in the 1st quarter. First Merchants Corp now owns 39,835 shares of the conglomerate’s stock valued at $3,407,000 after purchasing an additional 110 shares during the last quarter. Finally, Fulton Breakefield Broenniman LLC raised its stake in Danaher Corporation by 0.7% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 90,516 shares of the conglomerate’s stock valued at $7,742,000 after purchasing an additional 661 shares during the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.
In other Danaher Corporation news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $81.78, for a total value of $799,154.16. Following the transaction, the insider now directly owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $83.03, for a total value of $878,291.34. Following the completion of the transaction, the director now directly owns 42,151 shares in the company, valued at $3,499,797.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,496 shares of company stock worth $5,916,223. Insiders own 12.20% of the company’s stock.
Several brokerages recently weighed in on DHR. Wells Fargo & Company reissued a “market perform” rating on shares of Danaher Corporation in a research note on Saturday, July 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $95.00 target price on shares of Danaher Corporation in a research note on Friday, August 4th. BidaskClub downgraded shares of Danaher Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Credit Suisse Group reissued a “buy” rating and issued a $93.00 target price on shares of Danaher Corporation in a research note on Wednesday, May 24th. Finally, Janney Montgomery Scott downgraded shares of Danaher Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Danaher Corporation currently has an average rating of “Buy” and a consensus target price of $92.72.
Shares of Danaher Corporation (NYSE DHR) opened at 87.27 on Wednesday. The stock has a market cap of $60.63 billion, a PE ratio of 27.86 and a beta of 1.03. The firm has a 50-day moving average price of $81.99 and a 200 day moving average price of $84.14. Danaher Corporation has a 12-month low of $75.71 and a 12-month high of $88.01.
Danaher Corporation (NYSE:DHR) last announced its quarterly earnings data on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Equities research analysts predict that Danaher Corporation will post $3.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.64%. Danaher Corporation’s payout ratio is currently 17.83%.
Danaher Corporation Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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