Danaher Corporation (NYSE:DHR) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lessened its holdings in Danaher Corporation (NYSE:DHR) by 12.3% in the first quarter, HoldingsChannel.com reports. The firm owned 1,735 shares of the conglomerate’s stock after selling 243 shares during the period. Plimoth Trust Co. LLC’s holdings in Danaher were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Danaher by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 59,750,122 shares of the conglomerate’s stock valued at $13,715,641,000 after purchasing an additional 315,912 shares during the period. Geode Capital Management LLC raised its holdings in shares of Danaher by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate’s stock valued at $3,056,996,000 after buying an additional 315,446 shares during the last quarter. Norges Bank acquired a new position in shares of Danaher during the fourth quarter worth approximately $2,130,740,000. Bank of New York Mellon Corp grew its holdings in Danaher by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 8,589,019 shares of the conglomerate’s stock worth $1,971,609,000 after buying an additional 441,012 shares in the last quarter. Finally, Northern Trust Corp increased its position in Danaher by 14.3% in the 4th quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate’s stock valued at $1,821,477,000 after acquiring an additional 992,594 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. HSBC decreased their price target on Danaher from $270.00 to $240.00 in a research note on Friday, April 25th. Wall Street Zen cut shares of Danaher from a “buy” rating to a “hold” rating in a research note on Monday, June 9th. UBS Group dropped their target price on Danaher from $275.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Danaher from $240.00 to $210.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 23rd. Finally, TD Cowen lifted their price target on Danaher from $240.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.17.

Insiders Place Their Bets

In other news, Chairman Steven M. Rales sold 1,250,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $196.74, for a total value of $245,925,000.00. Following the completion of the sale, the chairman now directly owns 3,105,808 shares of the company’s stock, valued at $611,036,665.92. This represents a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Paul Riley sold 15,805 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the transaction, the executive vice president now directly owns 15,179 shares in the company, valued at $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.

Danaher Trading Down 0.7%

Shares of NYSE DHR opened at $194.36 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $281.70. The company has a market cap of $139.10 billion, a price-to-earnings ratio of 37.74, a P/E/G ratio of 2.75 and a beta of 0.77. The business has a fifty day simple moving average of $193.46 and a 200-day simple moving average of $210.32.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.58 billion. Danaher had a net margin of 15.81% and a return on equity of 10.80%. Sell-side analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.66%. Danaher’s dividend payout ratio is 24.85%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.