Independence Bank of Kentucky Has $820,000 Position in Danaher Co. (NYSE:DHR)

Independence Bank of Kentucky grew its stake in shares of Danaher Co. (NYSE:DHR) by 44.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,417 shares of the conglomerate’s stock after buying an additional 1,049 shares during the period. Independence Bank of Kentucky’s holdings in Danaher were worth $820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. AM Investment Strategies LLC increased its stake in Danaher by 1.5% in the first quarter. AM Investment Strategies LLC now owns 2,728 shares of the conglomerate’s stock valued at $687,000 after acquiring an additional 41 shares during the period. M&R Capital Management Inc. increased its stake in Danaher by 0.5% in the first quarter. M&R Capital Management Inc. now owns 9,011 shares of the conglomerate’s stock valued at $2,271,000 after acquiring an additional 42 shares during the period. Silver Oak Securities Incorporated increased its stake in Danaher by 4.3% in the first quarter. Silver Oak Securities Incorporated now owns 1,013 shares of the conglomerate’s stock valued at $255,000 after acquiring an additional 42 shares during the period. Bank Pictet & Cie Asia Ltd. increased its stake in Danaher by 1.9% in the fourth quarter. Bank Pictet & Cie Asia Ltd. now owns 2,396 shares of the conglomerate’s stock valued at $636,000 after acquiring an additional 44 shares during the period. Finally, Lathrop Investment Management Corp increased its stake in Danaher by 2.2% in the first quarter. Lathrop Investment Management Corp now owns 2,050 shares of the conglomerate’s stock valued at $517,000 after acquiring an additional 45 shares during the period. Institutional investors own 76.71% of the company’s stock.

Danaher Trading Up 0.4 %

DHR opened at $253.48 on Friday. The company’s 50 day moving average is $252.58 and its 200-day moving average is $245.00. Danaher Co. has a 1-year low of $221.22 and a 1-year high of $291.17. The company has a current ratio of 2.08, a quick ratio of 1.70 and a debt-to-equity ratio of 0.35. The company has a market cap of $187.16 billion, a P/E ratio of 29.75, a PEG ratio of 2.72 and a beta of 0.80.

Danaher (NYSE:DHR) last posted its 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 business had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the company earned $2.76 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. Equities research analysts predict that Danaher Co. will post 8.84 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, October 12th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, October 11th. This represents a $1.08 annualized dividend and a yield of 0.43%. Danaher’s payout ratio is 12.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DHR shares. Barclays upped their price objective on shares of Danaher from $260.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. Bank of America upped their price objective on shares of Danaher from $250.00 to $280.00 in a research note on Wednesday, July 26th. Royal Bank of Canada upped their price objective on shares of Danaher from $260.00 to $292.00 in a research note on Wednesday, July 26th. StockNews.com started coverage on shares of Danaher in a research note on Tuesday. They set a “hold” rating on the stock. Finally, Raymond James upped their price objective on shares of Danaher from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.79.

Insiders Place Their Bets

In other news, SVP Jose-Carlos Gutierrez-Ramos sold 590 shares of Danaher stock in a transaction on Monday, August 21st. The shares were sold at an average price of $250.54, for a total value of $147,818.60. Following the completion of the sale, the senior vice president now owns 6,939 shares in the company, valued at approximately $1,738,497.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Danaher news, Director Teri List sold 3,490 shares of Danaher stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $263.30, for a total transaction of $918,917.00. Following the transaction, the director now directly owns 17,494 shares of the company’s stock, valued at approximately $4,606,170.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jose-Carlos Gutierrez-Ramos sold 590 shares of Danaher stock in a transaction on Monday, August 21st. The stock was sold at an average price of $250.54, for a total transaction of $147,818.60. Following the transaction, the senior vice president now directly owns 6,939 shares in the company, valued at $1,738,497.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,922 shares of company stock worth $12,552,233. 11.10% of the stock is currently owned by insiders.

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.