Coastline Trust Co Sells 1,135 Shares of Danaher Co. (NYSE:DHR)
Coastline Trust Co cut its holdings in Danaher Co. (NYSE:DHR) by 12.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,820 shares of the conglomerate’s stock after selling 1,135 shares during the quarter. Coastline Trust Co’s holdings in Danaher were worth $1,684,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Provident Wealth Management LLC purchased a new stake in Danaher in the third quarter valued at about $27,000. Howe & Rusling Inc. raised its stake in Danaher by 81.4% in the second quarter. Howe & Rusling Inc. now owns 156 shares of the conglomerate’s stock valued at $28,000 after buying an additional 70 shares during the last quarter. Semmax Financial Advisors Inc. purchased a new stake in Danaher in the second quarter valued at about $35,000. Trustcore Financial Services LLC raised its stake in Danaher by 36.9% in the second quarter. Trustcore Financial Services LLC now owns 230 shares of the conglomerate’s stock valued at $41,000 after buying an additional 62 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in Danaher by 1,055.6% in the first quarter. Prestige Wealth Management Group LLC now owns 312 shares of the conglomerate’s stock valued at $43,000 after buying an additional 285 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.
Shares of DHR stock opened at $227.45 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.74 and a debt-to-equity ratio of 0.68. Danaher Co. has a twelve month low of $119.60 and a twelve month high of $229.45. The stock has a 50 day moving average of $209.83 and a 200 day moving average of $183.29. The stock has a market cap of $161.36 billion, a P/E ratio of 48.70, a P/E/G ratio of 3.52 and a beta of 0.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, September 28th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, September 25th. Danaher’s payout ratio is currently 16.29%.
A number of equities research analysts have commented on the company. Bank of America increased their price target on Danaher from $181.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a research note on Tuesday, July 21st. Wells Fargo & Company restated a “buy” rating and issued a $234.00 price objective on shares of Danaher in a research note on Tuesday, September 29th. Royal Bank of Canada raised their price objective on Danaher from $205.00 to $218.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Jefferies Financial Group raised their price objective on Danaher from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Danaher presently has a consensus rating of “Buy” and an average price target of $202.00.
In other news, Director John T. Schwieters sold 6,014 shares of Danaher stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $193.95, for a total value of $1,166,415.30. Following the sale, the director now directly owns 25,394 shares of the company’s stock, valued at $4,925,166.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda P. Hefner sold 2,754 shares of Danaher stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $197.00, for a total value of $542,538.00. Following the completion of the sale, the director now directly owns 32,749 shares in the company, valued at $6,451,553. The disclosure for this sale can be found here. Over the last three months, insiders sold 530,474 shares of company stock worth $104,501,669. 11.70% of the stock is owned by corporate insiders.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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