Danaher Corporation (DHR) Position Decreased by Shikiar Asset Management Inc.
Shikiar Asset Management Inc. lessened its holdings in Danaher Corporation (NYSE:DHR) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,562 shares of the conglomerate’s stock after selling 2,900 shares during the period. Danaher Corporation comprises about 2.1% of Shikiar Asset Management Inc.’s portfolio, making the stock its 18th largest holding. Shikiar Asset Management Inc.’s holdings in Danaher Corporation were worth $4,773,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Lee Danner & Bass Inc. increased its stake in shares of Danaher Corporation by 0.4% in the 1st quarter. Lee Danner & Bass Inc. now owns 2,635 shares of the conglomerate’s stock valued at $225,000 after purchasing an additional 10 shares in the last quarter. Norway Savings Bank increased its stake in shares of Danaher Corporation by 0.4% in the 2nd 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 increased its stake in shares of Danaher Corporation by 0.8% in the 2nd 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 increased its stake in shares of Danaher Corporation by 1.0% in the 1st 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. increased its stake in shares of Danaher Corporation by 0.5% in the 1st 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. Hedge funds and other institutional investors own 75.68% of the company’s stock.
In other news, insider William King sold 43,688 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the completion of the transaction, the insider now directly owns 45,748 shares of the company’s stock, valued at approximately $3,790,679.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Linda P. Hefner sold 10,578 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $83.03, for a total transaction of $878,291.34. Following the transaction, the director now directly owns 42,151 shares of the company’s stock, valued at $3,499,797.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,496 shares of company stock valued at $5,916,223. Corporate insiders own 12.20% of the company’s stock.
Shares of Danaher Corporation (NYSE:DHR) opened at 86.78 on Friday. Danaher Corporation has a 52-week low of $75.71 and a 52-week high of $88.62. The stock has a 50 day moving average price of $82.99 and a 200-day moving average price of $84.20. The stock has a market capitalization of $60.29 billion, a price-to-earnings ratio of 27.70 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 20th. The conglomerate reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period last year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Danaher Corporation will post $3.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.65%. Danaher Corporation’s dividend payout ratio (DPR) is 17.83%.
DHR has been the subject of several recent analyst reports. Citigroup Inc. set a $96.00 price target on Danaher Corporation and gave the company a “buy” rating in a research note on Friday, July 21st. Deutsche Bank AG restated a “buy” rating and issued a $97.00 price target on shares of Danaher Corporation in a research note on Wednesday, June 21st. Zacks Investment Research upgraded Danaher Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $95.00 price target on shares of Danaher Corporation in a research note on Friday, August 4th. Finally, BidaskClub upgraded Danaher Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One investment 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 stock. The company presently has a consensus rating of “Buy” and an average target price of $92.72.
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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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