Norway Savings Bank Grows Stake in Danaher Co. (NYSE:DHR)

Norway Savings Bank boosted its position in Danaher Co. (NYSE:DHR) by 63.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,468 shares of the conglomerate’s stock after purchasing an additional 1,340 shares during the period. Norway Savings Bank’s holdings in Danaher were worth $832,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DHR. GPS Wealth Strategies Group LLC purchased a new position in Danaher during the first quarter worth $25,000. Freedom Wealth Alliance LLC purchased a new position in Danaher during the fourth quarter worth $27,000. Chelsea Counsel Co. purchased a new position in Danaher during the fourth quarter worth $27,000. Silicon Valley Capital Partners purchased a new position in Danaher during the first quarter worth $29,000. Finally, Stone House Investment Management LLC purchased a new position in Danaher during the first quarter worth $32,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

Danaher Stock Up 0.7 %

Shares of NYSE DHR traded up $1.77 during midday trading on Friday, reaching $255.25. 5,696,631 shares of the company’s stock were exchanged, compared to its average volume of 2,877,042. Danaher Co. has a 52-week low of $221.22 and a 52-week high of $283.63. The stock has a market capitalization of $188.46 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.70 and a current ratio of 2.08. The business’s fifty day moving average price is $253.41 and its two-hundred day moving average price is $245.09.

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

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, October 12th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, October 11th. Danaher’s dividend payout ratio is currently 12.68%.

Analyst Ratings Changes

DHR has been the subject of several recent research reports. Barclays raised their price target on Danaher from $260.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Bank of America raised their price objective on Danaher from $250.00 to $280.00 in a report on Wednesday, July 26th. StockNews.com initiated coverage on Danaher in a report on Tuesday, September 12th. They set a “hold” rating on the stock. Raymond James raised their price objective on Danaher from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Finally, Stifel Nicolaus decreased their price objective on Danaher from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and an average price target of $289.79.

Insider Activity at Danaher

In related news, SVP Jose-Carlos Gutierrez-Ramos sold 590 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was 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 directly owns 6,939 shares of the company’s stock, valued at $1,738,497.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Danaher news, Director Teri List sold 3,490 shares of Danaher stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $263.30, for a total value of $918,917.00. Following the completion of the transaction, the director now directly owns 17,494 shares in the company, valued at $4,606,170.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jose-Carlos Gutierrez-Ramos sold 590 shares of Danaher stock in a transaction that occurred 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 transaction, the senior vice president now owns 6,939 shares of the company’s stock, valued at $1,738,497.06. The disclosure for this sale can be found here. Insiders sold a total of 47,922 shares of company stock valued at $12,552,233 over the last three months. 11.10% of the stock is owned by insiders.

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