Chemung Canal Trust Co. reduced its stake in Danaher Corp. (NYSE:DHR) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 21,502 shares of the company’s stock after selling 864 shares during the period. Chemung Canal Trust Co.’s holdings in Danaher Corp. were worth $2,171,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cribstone Capital Management LLC bought a new position in Danaher Corp. during the second quarter worth $132,000. Carnick & Kubik LLC bought a new position in Danaher Corp. during the first quarter worth $171,000. Integrated Investment Consultants LLC bought a new position in Danaher Corp. during the second quarter worth $179,000. Washington Trust Bank raised its position in Danaher Corp. by 88.4% in the second quarter. Washington Trust Bank now owns 1,950 shares of the company’s stock worth $197,000 after buying an additional 915 shares during the period. Finally, Cohen Lawrence B bought a new position in Danaher Corp. during the second quarter worth $200,000. 75.73% of the stock is owned by hedge funds and other institutional investors.
Shares of Danaher Corp. (NYSE:DHR) traded up 0.7502% during midday trading on Wednesday, hitting $77.0034. The stock had a trading volume of 1,458,090 shares. The stock has a market cap of $53.17 billion, a PE ratio of 15.3149 and a beta of 1.13. The firm has a 50 day moving average price of $77.85 and a 200-day moving average price of $76.92. Danaher Corp. has a 52-week low of $61.60 and a 52-week high of $82.64.
Danaher Corp. (NYSE:DHR) last released its quarterly earnings data on Monday, July 25th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.03. Danaher Corp. had a net margin of 15.88% and a return on equity of 13.40%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the company earned $1.08 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts predict that Danaher Corp. will post $3.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.65%. Danaher Corp.’s dividend payout ratio (DPR) is presently 9.94%.
Several analysts have commented on DHR shares. Goldman Sachs Group Inc. started coverage on Danaher Corp. in a research note on Tuesday, July 5th. They set a “neutral” rating and a $74.00 target price on the stock. Zacks Investment Research upgraded Danaher Corp. from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday, September 27th. Jefferies Group reiterated a “buy” rating on shares of Danaher Corp. in a research note on Thursday, September 8th. Barclays PLC reiterated an “overweight” rating and set a $105.00 target price on shares of Danaher Corp. in a research note on Monday, June 27th. Finally, Sanford C. Bernstein upgraded Danaher Corp. from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Thursday, June 23rd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Danaher Corp. currently has an average rating of “Buy” and an average target price of $92.87.
In related news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $81.44, for a total value of $3,737,851.68. Following the sale, the insider now owns 179,054 shares of the company’s stock, valued at approximately $14,582,157.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel L. Comas sold 96,446 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $80.88, for a total transaction of $7,800,552.48. Following the completion of the sale, the chief financial officer now directly owns 215,716 shares in the company, valued at approximately $17,447,110.08. The disclosure for this sale can be found here. 12.60% of the stock is currently owned by corporate insiders.
Danaher Corp. Company Profile
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corp. (NYSE:DHR).
Receive News & Ratings for Danaher Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Danaher Corp. and related companies with MarketBeat.com's FREE daily email newsletter.