OLD National Bancorp IN Cuts Holdings in Danaher Corporation $DHR

OLD National Bancorp IN decreased its holdings in Danaher Corporation (NYSE:DHR) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,387 shares of the conglomerate’s stock after selling 2,210 shares during the period. OLD National Bancorp IN’s holdings in Danaher were worth $14,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DHR. White Pine Capital LLC grew its stake in Danaher by 1.4% in the second quarter. White Pine Capital LLC now owns 3,494 shares of the conglomerate’s stock valued at $690,000 after purchasing an additional 49 shares during the last quarter. Boyd Watterson Asset Management LLC OH grew its position in shares of Danaher by 2.1% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 2,524 shares of the conglomerate’s stock worth $499,000 after buying an additional 51 shares during the last quarter. Worth Financial Advisory Group LLC raised its stake in shares of Danaher by 4.6% during the 2nd quarter. Worth Financial Advisory Group LLC now owns 1,195 shares of the conglomerate’s stock worth $236,000 after acquiring an additional 53 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Danaher by 13.1% during the second quarter. Bruce G. Allen Investments LLC now owns 467 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 54 shares in the last quarter. Finally, Texas Bank & Trust Co boosted its position in shares of Danaher by 1.6% in the 2nd quarter. Texas Bank & Trust Co now owns 3,567 shares of the conglomerate’s stock worth $705,000 after purchasing an additional 55 shares in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DHR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Danaher from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their price objective on shares of Danaher from $230.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Rothschild Redb downgraded shares of Danaher from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Barclays lifted their price objective on Danaher from $225.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Bank of America lowered their price objective on Danaher from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Twenty-one investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.25.

Danaher Stock Performance

DHR opened at $228.09 on Tuesday. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $258.23. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $220.83 and its two-hundred day simple moving average is $207.36. The company has a market cap of $161.11 billion, a price-to-earnings ratio of 47.03, a PEG ratio of 4.36 and a beta of 0.89.

Danaher (NYSE:DHR) last announced its quarterly earnings data on Monday, October 20th. The conglomerate reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6 billion. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.71 EPS. Equities analysts anticipate that Danaher Corporation will post 7.63 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, January 30th. Stockholders of record on Friday, December 26th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. Danaher’s payout ratio is presently 26.39%.

Insider Activity at Danaher

In other Danaher news, Director Teri List sold 3,298 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $226.50, for a total transaction of $746,997.00. Following the completion of the transaction, the director owned 20,762 shares of the company’s stock, valued at $4,702,593. This trade represents a 13.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian W. Ellis sold 21,776 shares of Danaher stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $219.23, for a total transaction of $4,773,952.48. Following the completion of the sale, the senior vice president owned 14,553 shares of the company’s stock, valued at $3,190,454.19. This trade represents a 59.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,248 shares of company stock valued at $6,609,663. 11.20% of the stock is owned by company insiders.

Danaher Company Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.