Northern Trust Corp lowered its holdings in shares of Danaher Co. (NYSE:DHR) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 8,961,768 shares of the conglomerate’s stock after selling 140,286 shares during the period. Northern Trust Corp’s holdings in Danaher were worth $884,347,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Mount Yale Investment Advisors LLC purchased a new position in Danaher during the first quarter worth approximately $103,000. IMS Capital Management acquired a new position in shares of Danaher during the second quarter valued at approximately $107,000. BerganKDV Wealth Management LLC acquired a new position in shares of Danaher during the second quarter valued at approximately $111,000. Fort L.P. acquired a new position in shares of Danaher during the second quarter valued at approximately $119,000. Finally, Braun Bostich & Associates Inc. raised its holdings in shares of Danaher by 506.4% during the second quarter. Braun Bostich & Associates Inc. now owns 1,225 shares of the conglomerate’s stock valued at $121,000 after acquiring an additional 1,023 shares during the last quarter. Institutional investors own 76.87% of the company’s stock.
In related news, EVP William K. Daniel sold 103,086 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $100.63, for a total value of $10,373,544.18. Following the completion of the sale, the executive vice president now owns 167,080 shares of the company’s stock, valued at $16,813,260.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Robert S. Lutz sold 14,555 shares of the stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $103.93, for a total value of $1,512,701.15. Following the completion of the sale, the senior vice president now directly owns 18,044 shares of the company’s stock, valued at approximately $1,875,312.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 299,961 shares of company stock valued at $30,619,691. Insiders own 11.90% of the company’s stock.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 19th. The conglomerate reported $1.15 EPS for the quarter, beating the consensus estimate of $1.09 by $0.06. Danaher had a return on equity of 11.55% and a net margin of 13.84%. The firm had revenue of $4.98 billion during the quarter, compared to analysts’ expectations of $4.91 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. equities research analysts anticipate that Danaher Co. will post 4.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, September 28th will be issued a $0.16 dividend. The ex-dividend date is Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.59%. Danaher’s dividend payout ratio is presently 15.88%.
A number of brokerages have commented on DHR. Zacks Investment Research cut Danaher from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Royal Bank of Canada increased their target price on Danaher to $107.00 and gave the company a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. ValuEngine cut Danaher from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Morgan Stanley increased their target price on Danaher from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Finally, Bank of America set a $113.00 target price on Danaher and gave the company a “buy” rating in a report on Thursday, July 19th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $109.40.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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