Webster Bank N. A. Cuts Stock Position in Danaher Co. (NYSE:DHR)

Webster Bank N. A. trimmed its position in shares of Danaher Co. (NYSE:DHR) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,696 shares of the conglomerate’s stock after selling 767 shares during the period. Danaher comprises 1.6% of Webster Bank N. A.’s holdings, making the stock its 10th biggest holding. Webster Bank N. A.’s holdings in Danaher were worth $12,167,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AM Investment Strategies LLC increased its stake in shares of Danaher by 1.5% in the first quarter. AM Investment Strategies LLC now owns 2,728 shares of the conglomerate’s stock worth $687,000 after buying an additional 41 shares during the last quarter. M&R Capital Management Inc. boosted its holdings in Danaher by 0.5% in the first quarter. M&R Capital Management Inc. now owns 9,011 shares of the conglomerate’s stock worth $2,271,000 after purchasing an additional 42 shares during the period. Silver Oak Securities Incorporated boosted its holdings in Danaher by 4.3% in the first quarter. Silver Oak Securities Incorporated now owns 1,013 shares of the conglomerate’s stock worth $255,000 after purchasing an additional 42 shares during the period. Bank Pictet & Cie Asia Ltd. boosted its holdings in Danaher by 1.9% in the fourth quarter. Bank Pictet & Cie Asia Ltd. now owns 2,396 shares of the conglomerate’s stock worth $636,000 after purchasing an additional 44 shares during the period. Finally, Lathrop Investment Management Corp boosted its holdings in Danaher by 2.2% in the first quarter. Lathrop Investment Management Corp now owns 2,050 shares of the conglomerate’s stock worth $517,000 after purchasing an additional 45 shares during the period. 76.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Danaher news, EVP Joakim Weidemanis sold 22,439 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $263.42, for a total transaction of $5,910,881.38. Following the completion of the sale, the executive vice president now owns 88,689 shares of the company’s stock, valued at $23,362,456.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Danaher news, Director Teri List sold 3,490 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $263.30, for a total transaction of $918,917.00. Following the completion of the sale, the director now owns 17,494 shares of the company’s stock, valued at $4,606,170.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joakim Weidemanis sold 22,439 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $263.42, for a total value of $5,910,881.38. Following the sale, the executive vice president now directly owns 88,689 shares of the company’s stock, valued at approximately $23,362,456.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,922 shares of company stock worth $12,552,233. Company insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DHR. Stifel Nicolaus decreased their price objective on shares of Danaher from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, July 26th. StockNews.com initiated coverage on shares of Danaher in a report on Tuesday, September 12th. They set a “hold” rating for the company. Raymond James boosted their price target on shares of Danaher from $270.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Barclays boosted their price target on shares of Danaher from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, July 25th. Finally, Bank of America boosted their price target on shares of Danaher from $250.00 to $280.00 in a report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Danaher currently has an average rating of “Moderate Buy” and a consensus target price of $289.79.

Danaher Price Performance

Danaher stock traded up $0.90 during midday trading on Tuesday, hitting $254.67. The company’s stock had a trading volume of 876,323 shares, compared to its average volume of 2,860,623. The company has a quick ratio of 1.70, a current ratio of 2.08 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average price is $253.41 and its 200-day moving average price is $245.09. Danaher Co. has a 12 month low of $221.22 and a 12 month high of $283.63. The company has a market capitalization of $188.04 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.75 and a beta of 0.80.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.05 EPS for the quarter, topping the consensus estimate of $2.01 by $0.04. Danaher had a net margin of 20.95% and a return on equity of 15.03%. The firm had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the previous year, the business earned $2.76 earnings per share. Danaher’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts anticipate that Danaher Co. will post 8.84 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, October 12th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.42%. The ex-dividend date is Wednesday, October 11th. Danaher’s dividend payout ratio (DPR) is presently 12.68%.

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; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.