Webster Bank N. A. lowered its stake in shares of Danaher Co. (NYSE:DHR) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 71,672 shares of the conglomerate’s stock after selling 832 shares during the period. Danaher makes up 1.1% of Webster Bank N. A.’s investment portfolio, making the stock its 21st biggest holding. Webster Bank N. A.’s holdings in Danaher were worth $7,788,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Private Capital Advisors Inc. raised its position in Danaher by 15.9% in the third quarter. Private Capital Advisors Inc. now owns 53,635 shares of the conglomerate’s stock worth $4,601,000 after purchasing an additional 7,370 shares in the last quarter. Canton Hathaway LLC acquired a new position in Danaher in the third quarter worth about $875,000. Lau Associates LLC raised its position in Danaher by 28.1% in the third quarter. Lau Associates LLC now owns 20,437 shares of the conglomerate’s stock worth $2,221,000 after purchasing an additional 4,481 shares in the last quarter. Bank of Montreal Can raised its position in Danaher by 113.3% in the third quarter. Bank of Montreal Can now owns 1,069,328 shares of the conglomerate’s stock worth $116,195,000 after purchasing an additional 567,990 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV raised its position in Danaher by 269.7% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,275 shares of the conglomerate’s stock worth $1,660,000 after purchasing an additional 11,143 shares in the last quarter. 76.90% of the stock is owned by institutional investors and hedge funds.
In other news, 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 transaction of $1,512,701.15. Following the sale, the senior vice president now directly owns 18,044 shares of the company’s stock, valued at $1,875,312.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William K. Daniel sold 103,086 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $100.63, for a total transaction of $10,373,544.18. Following the sale, the executive vice president now directly owns 167,080 shares in the company, valued at $16,813,260.40. The disclosure for this sale can be found here. Insiders have sold 299,961 shares of company stock worth $30,619,691 over the last three months. 11.90% of the stock is owned by insiders.
Shares of Danaher stock opened at $103.38 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.07 and a debt-to-equity ratio of 0.41. The stock has a market cap of $76.04 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.08 and a beta of 1.01. Danaher Co. has a 1-year low of $83.81 and a 1-year high of $110.13.
Danaher (NYSE:DHR) last issued its quarterly earnings data on Thursday, July 19th. The conglomerate reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.06. The firm had revenue of $4.98 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Danaher had a net margin of 13.84% and a return on equity of 11.55%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. As a group, equities analysts anticipate that Danaher Co. will post 4.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. Danaher’s dividend payout ratio (DPR) is currently 15.88%.
Several research firms recently issued reports on DHR. Zacks Investment Research raised shares of Danaher from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Wednesday, September 19th. Morgan Stanley upped their price objective on shares of Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America set a $113.00 price objective on shares of Danaher and gave the stock a “buy” rating in a research note on Thursday, July 19th. Royal Bank of Canada upped their price objective on shares of Danaher to $107.00 and gave the stock a “positive” rating in a research note on Thursday, July 19th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Danaher from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $111.57.
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.
Featured Article: What are the Different Types of Leveraged Buyouts?
Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Co. (NYSE:DHR).
Receive News & Ratings for Danaher Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaher and related companies with MarketBeat.com's FREE daily email newsletter.