Park National Corp OH Sells 2,448 Shares of Danaher Corporation $DHR

Park National Corp OH cut its stake in shares of Danaher Corporation (NYSE:DHR) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,753 shares of the conglomerate’s stock after selling 2,448 shares during the period. Park National Corp OH’s holdings in Danaher were worth $16,605,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DHR. Norges Bank bought a new position in Danaher in the 2nd quarter valued at $1,979,503,000. Viking Global Investors LP raised its position in shares of Danaher by 543.9% in the second quarter. Viking Global Investors LP now owns 2,907,515 shares of the conglomerate’s stock worth $574,351,000 after buying an additional 2,455,994 shares in the last quarter. Generation Investment Management LLP boosted its stake in Danaher by 56.2% during the second quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock valued at $980,914,000 after buying an additional 1,787,522 shares during the period. Primecap Management Co. CA grew its position in Danaher by 924.2% during the second quarter. Primecap Management Co. CA now owns 1,239,320 shares of the conglomerate’s stock worth $244,815,000 after buying an additional 1,118,318 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in Danaher by 290.6% during the first quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock worth $295,550,000 after buying an additional 1,072,617 shares in the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

DHR stock opened at $228.57 on Tuesday. The stock has a market capitalization of $161.45 billion, a price-to-earnings ratio of 47.13, a PEG ratio of 4.39 and a beta of 0.89. The firm’s 50-day moving average price is $218.85 and its two-hundred day moving average price is $206.17. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.33. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $258.23.

Danaher (NYSE:DHR) last posted its earnings results on Monday, October 20th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the firm earned $1.71 earnings per share. Danaher’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, December 26th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. Danaher’s payout ratio is 26.39%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DHR. Deutsche Bank Aktiengesellschaft lifted their price target on Danaher from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. TD Cowen raised their price objective on shares of Danaher from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Danaher in a report on Wednesday, October 8th. HSBC increased their target price on Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, December 1st. Finally, Barclays upped their price objective on Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $247.21.

Insider Activity at Danaher

In related news, SVP Georgeann Couchara sold 5,174 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $210.42, for a total value of $1,088,713.08. Following the completion of the sale, the senior vice president owned 2,625 shares of the company’s stock, valued at $552,352.50. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teri List sold 3,298 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $226.50, for a total transaction of $746,997.00. Following the completion of the transaction, the director owned 20,762 shares of the company’s stock, valued at $4,702,593. This trade represents a 13.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,248 shares of company stock worth $6,609,663 over the last quarter. 11.20% of the stock is owned by corporate insiders.

About Danaher

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.