DE Burlo Group Inc. Sells 101,000 Shares of Danaher Corporation (DHR)
DE Burlo Group Inc. trimmed its holdings in shares of Danaher Corporation (NYSE:DHR) by 76.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,450 shares of the conglomerate’s stock after selling 101,000 shares during the quarter. DE Burlo Group Inc.’s holdings in Danaher Corporation were worth $2,569,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Honeywell International Inc. purchased a new stake in shares of Danaher Corporation during the 2nd quarter valued at about $25,317,000. Israel Discount Bank of New York purchased a new stake in shares of Danaher Corporation during the 1st quarter valued at about $209,000. Perkins Coie Trust Co raised its position in shares of Danaher Corporation by 2.0% during the 2nd quarter. Perkins Coie Trust Co now owns 29,431 shares of the conglomerate’s stock valued at $2,484,000 after buying an additional 586 shares in the last quarter. Eastern Bank raised its position in shares of Danaher Corporation by 4,291.1% during the 2nd quarter. Eastern Bank now owns 128,001 shares of the conglomerate’s stock valued at $10,802,000 after buying an additional 125,086 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Danaher Corporation by 1.4% during the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 977,381 shares of the conglomerate’s stock valued at $82,481,000 after buying an additional 13,689 shares in the last quarter. Hedge funds and other institutional investors own 75.68% of the company’s stock.
In related news, insider William King sold 7,458 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $82.97, for a total transaction of $618,790.26. Following the sale, the insider now directly owns 18,245 shares of the company’s stock, valued at approximately $1,513,787.65. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Linda P. Hefner sold 10,578 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the sale, 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 have sold 71,496 shares of company stock worth $5,916,223. 12.20% of the stock is owned by insiders.
Several brokerages have recently issued reports on DHR. J P Morgan Chase & Co restated an “overweight” rating and set a $95.00 target price on shares of Danaher Corporation in a research report on Friday, September 8th. Jefferies Group LLC restated a “buy” rating and set a $95.00 target price on shares of Danaher Corporation in a research report on Friday, August 4th. BidaskClub cut shares of Danaher Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Danaher Corporation from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Friday, July 28th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Danaher Corporation in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $92.72.
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Danaher Corporation (NYSE DHR) opened at 86.78 on Friday. Danaher Corporation has a 1-year low of $75.71 and a 1-year high of $88.62. The stock’s 50 day moving average is $82.99 and its 200-day moving average is $84.20. The company has a market capitalization of $60.29 billion, a P/E ratio of 27.70 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last announced its earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts expect that Danaher Corporation will post $3.95 earnings per share for the current fiscal 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 dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.65%. The ex-dividend date is Thursday, September 28th. 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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