CNB Bank Acquires 444 Shares of Danaher Corporation (NYSE:DHR)

CNB Bank boosted its holdings in Danaher Corporation (NYSE:DHR) by 11.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,221 shares of the conglomerate’s stock after acquiring an additional 444 shares during the quarter. CNB Bank’s holdings in Danaher were worth $865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FAS Wealth Partners Inc. raised its stake in Danaher by 20.6% in the fourth quarter. FAS Wealth Partners Inc. now owns 9,597 shares of the conglomerate’s stock valued at $2,203,000 after purchasing an additional 1,639 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Danaher by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,066,755 shares of the conglomerate’s stock valued at $933,524,000 after buying an additional 135,047 shares in the last quarter. Camden National Bank lifted its holdings in shares of Danaher by 285.0% during the 4th quarter. Camden National Bank now owns 7,227 shares of the conglomerate’s stock worth $1,659,000 after acquiring an additional 5,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Danaher by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,677,032 shares of the conglomerate’s stock worth $1,303,163,000 after acquiring an additional 579,046 shares in the last quarter. Finally, Terra Alpha Investments LLC bought a new position in Danaher in the fourth quarter valued at $3,068,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Insider Activity

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

Danaher Stock Performance

NYSE:DHR opened at $201.88 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $194.61 and its 200 day simple moving average is $208.77. The stock has a market cap of $144.48 billion, a P/E ratio of 39.20, a price-to-earnings-growth ratio of 2.82 and a beta of 0.77. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70.

Danaher (NYSE:DHR) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Danaher had a net margin of 15.81% and a return on equity of 10.80%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.58 billion. As a group, research analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.63%. Danaher’s dividend payout ratio is currently 24.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on DHR. Barclays reaffirmed an “overweight” rating and set a $225.00 price target (up previously from $215.00) on shares of Danaher in a research note on Tuesday. TD Cowen upped their price objective on shares of Danaher from $240.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of Danaher from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reissued a “buy” rating on shares of Danaher in a research note on Monday, April 7th. Finally, Wells Fargo & Company reduced their price objective on Danaher from $240.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $248.61.

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.