Lakeview Capital Partners LLC Trims Holdings in Danaher Corporation (DHR)
Lakeview Capital Partners LLC lessened its position in Danaher Corporation (NYSE:DHR) by 16.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,604 shares of the conglomerate’s stock after selling 500 shares during the period. Lakeview Capital Partners LLC’s holdings in Danaher Corporation were worth $220,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Lee Danner & Bass Inc. grew its stake in Danaher Corporation by 0.4% in the first quarter. Lee Danner & Bass Inc. now owns 2,635 shares of the conglomerate’s stock valued at $225,000 after acquiring an additional 10 shares during the period. Norway Savings Bank lifted its holdings in shares of Danaher Corporation by 0.4% in the second quarter. Norway Savings Bank now owns 2,238 shares of the conglomerate’s stock valued at $189,000 after purchasing an additional 10 shares in the last quarter. First Financial Corp IN lifted its holdings in shares of Danaher Corporation by 0.8% in the second quarter. First Financial Corp IN now owns 2,720 shares of the conglomerate’s stock valued at $230,000 after purchasing an additional 21 shares in the last quarter. Guardian Life Insurance Co. of America lifted its holdings in shares of Danaher Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 2,356 shares of the conglomerate’s stock valued at $202,000 after purchasing an additional 24 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Danaher Corporation by 0.5% in the first quarter. Assetmark Inc. now owns 6,622 shares of the conglomerate’s stock valued at $566,000 after purchasing an additional 30 shares in the last quarter. 75.75% of the stock is owned by hedge funds and other institutional investors.
DHR has been the topic of a number of recent research reports. Janney Montgomery Scott lowered Danaher Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, June 7th. BidaskClub lowered Danaher Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Wells Fargo & Company restated a “market perform” rating on shares of Danaher Corporation in a report on Saturday, July 22nd. Citigroup Inc. set a $96.00 target price on Danaher Corporation and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Zacks Investment Research lowered Danaher Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $92.72.
Shares of Danaher Corporation (DHR) opened at 88.21 on Friday. Danaher Corporation has a 52 week low of $75.71 and a 52 week high of $88.48. The firm has a 50 day moving average price of $82.64 and a 200 day moving average price of $84.22. The company has a market capitalization of $61.28 billion, a price-to-earnings ratio of 28.16 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Danaher Corporation had a return on equity of 11.15% and a net margin of 12.63%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Equities analysts forecast that Danaher Corporation will post $3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.63%. Danaher Corporation’s payout ratio is 17.83%.
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In related news, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $81.78, for a total value of $799,154.16. Following the transaction, the insider now directly owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William King sold 43,688 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $82.86, for a total value of $3,619,987.68. Following the completion of the transaction, the insider now directly owns 45,748 shares in the company, valued at $3,790,679.28. The disclosure for this sale can be found here. Insiders have sold a total of 71,496 shares of company stock worth $5,916,223 over the last three months. Insiders own 12.20% of the company’s stock.
Danaher Corporation Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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