Penobscot Investment Management Company Inc. Sells 1,805 Shares of Danaher Corporation (NYSE:DHR)

Penobscot Investment Management Company Inc. cut its holdings in Danaher Corporation (NYSE:DHR) by 2.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 60,632 shares of the conglomerate’s stock after selling 1,805 shares during the period. Danaher makes up about 1.2% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 23rd biggest holding. Penobscot Investment Management Company Inc.’s holdings in Danaher were worth $12,430,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. FAS Wealth Partners Inc. grew its holdings in Danaher by 20.6% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 135,047 shares during the last quarter. Camden National Bank grew its holdings in Danaher by 285.0% during the 4th quarter. Camden National Bank now owns 7,227 shares of the conglomerate’s stock valued at $1,659,000 after purchasing an additional 5,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Danaher by 11.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,677,032 shares of the conglomerate’s stock valued at $1,303,163,000 after purchasing an additional 579,046 shares during the last quarter. Finally, Terra Alpha Investments LLC bought a new position in Danaher during the 4th quarter valued at about $3,068,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Price Performance

Shares of DHR opened at $200.85 on Thursday. The company has a 50 day moving average price of $194.31 and a 200-day moving average price of $209.00. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $281.70. The stock has a market capitalization of $143.74 billion, a PE ratio of 39.00, a PEG ratio of 2.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 1.43.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.58 billion. Equities analysts predict that Danaher Corporation will post 7.63 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently declared 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 0.64%. Danaher’s payout ratio is presently 24.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DHR shares. Jefferies Financial Group cut their price target on shares of Danaher from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Bank of America cut their price target on shares of Danaher from $265.00 to $230.00 in a report on Monday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $250.00 price target on shares of Danaher in a report on Wednesday, April 23rd. Guggenheim reiterated a “buy” rating and set a $250.00 price target on shares of Danaher in a report on Wednesday, April 23rd. Finally, Evercore ISI lowered their price objective on shares of Danaher from $240.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Five investment 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 an average rating of “Moderate Buy” and a consensus target price of $248.61.

Insider Transactions at Danaher

In related news, EVP Christopher Paul Riley sold 15,805 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the transaction, the executive vice president now owns 15,179 shares in the company, valued at $3,005,442. The trade was a 51.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven M. Rales sold 1,250,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now owns 3,105,808 shares of the company’s stock, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.10% of the company’s stock.

Danaher Company 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.