Adirondack Trust Co. Sells 522 Shares of Danaher Corporation (DHR)
Adirondack Trust Co. reduced its stake in Danaher Corporation (NYSE:DHR) by 16.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,624 shares of the conglomerate’s stock after selling 522 shares during the period. Adirondack Trust Co.’s holdings in Danaher Corporation were worth $222,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Peddock Capital Advisors LLC grew its stake in shares of Danaher Corporation by 17.4% during the first quarter. Peddock Capital Advisors LLC now owns 1,224 shares of the conglomerate’s stock valued at $105,000 after acquiring an additional 181 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Danaher Corporation by 92.3% during the first quarter. Proficio Capital Partners LLC now owns 1,246 shares of the conglomerate’s stock valued at $105,000 after acquiring an additional 598 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Danaher Corporation during the first quarter valued at about $157,000. Cornerstone Advisors Inc. grew its stake in shares of Danaher Corporation by 62.0% during the second quarter. Cornerstone Advisors Inc. now owns 2,111 shares of the conglomerate’s stock valued at $178,000 after acquiring an additional 808 shares in the last quarter. Finally, Baystate Wealth Management LLC grew its stake in shares of Danaher Corporation by 11.3% during the second quarter. Baystate Wealth Management LLC now owns 2,115 shares of the conglomerate’s stock valued at $181,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 75.68% of the company’s stock.
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 shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the sale, the insider now directly owns 155,520 shares of the company’s stock, valued at $12,718,425.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William King sold 43,688 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the sale, the insider now directly owns 45,748 shares in the company, valued at $3,790,679.28. The disclosure for this sale can be found here. In the last three months, insiders sold 71,496 shares of company stock worth $5,916,223. 12.20% of the stock is currently owned by insiders.
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DHR has been the subject of several recent analyst reports. Zacks Investment Research downgraded Danaher Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub upgraded Danaher Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. J P Morgan Chase & Co restated an “overweight” rating and set a $95.00 target price on shares of Danaher Corporation in a research note on Friday, September 8th. Citigroup Inc. set a $96.00 target price on Danaher Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $88.00 target price on shares of Danaher Corporation in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $92.72.
Danaher Corporation (DHR) opened at 88.11 on Tuesday. The firm has a 50-day moving average of $82.84 and a 200-day moving average of $84.20. The company has a market cap of $61.21 billion, a PE ratio of 28.12 and a beta of 1.03. Danaher Corporation has a one year low of $75.71 and a one year high of $88.59.
Danaher Corporation (NYSE:DHR) last posted its earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, analysts predict that Danaher Corporation will post $3.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. Danaher Corporation’s payout ratio is currently 17.83%.
About Danaher Corporation
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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