OLD National Bancorp IN Has $13.93 Million Stake in Danaher Co. (NYSE:DHR)

OLD National Bancorp IN lowered its position in Danaher Co. (NYSE:DHR) by 4.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 67,955 shares of the conglomerate’s stock after selling 3,263 shares during the period. OLD National Bancorp IN’s holdings in Danaher were worth $13,931,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Kennebec Savings Bank lifted its position in shares of Danaher by 3.8% during the 1st quarter. Kennebec Savings Bank now owns 3,052 shares of the conglomerate’s stock valued at $626,000 after acquiring an additional 111 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Danaher by 7.2% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,067 shares of the conglomerate’s stock valued at $219,000 after acquiring an additional 72 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Danaher by 34.0% during the 1st quarter. Sivia Capital Partners LLC now owns 1,890 shares of the conglomerate’s stock valued at $387,000 after acquiring an additional 480 shares during the period. Blue Zone Wealth Advisors LLC lifted its position in shares of Danaher by 14.6% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 19,221 shares of the conglomerate’s stock valued at $3,940,000 after acquiring an additional 2,443 shares during the period. Finally, Independence Bank of Kentucky lifted its position in shares of Danaher by 9.7% during the 1st quarter. Independence Bank of Kentucky now owns 6,866 shares of the conglomerate’s stock valued at $1,408,000 after acquiring an additional 605 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity at Danaher

In other 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 sale, the executive vice president now directly owns 15,179 shares of the company’s stock, valued at approximately $3,005,442. This represents a 51.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven M. Rales sold 1,250,000 shares of the 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 completion of the sale, the chairman now directly owns 3,105,808 shares in the company, valued at approximately $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on DHR. Guggenheim reiterated a “buy” rating and set a $250.00 target price on shares of Danaher in a research report on Wednesday, April 23rd. UBS Group lowered their price objective on shares of Danaher from $275.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Danaher from $280.00 to $260.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Danaher from $260.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, Citigroup restated a “buy” rating on shares of Danaher in a report on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $263.24.

Danaher Stock Performance

NYSE DHR opened at $196.13 on Friday. Danaher Co. has a 1 year low of $171.00 and a 1 year high of $281.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.05. The firm has a market cap of $140.36 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 2.66 and a beta of 0.77. The company has a fifty day moving average price of $191.34 and a 200-day moving average price of $212.19.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 16.33% and a return on equity of 10.82%. As a group, equities research analysts predict that Danaher Co. will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.65%. Danaher’s payout ratio is currently 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.