Essex Savings Bank Grows Stock Holdings in Danaher Co. (NYSE:DHR)

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Essex Savings Bank increased its stake in shares of Danaher Co. (NYSE:DHR) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,064 shares of the conglomerate’s stock after buying an additional 115 shares during the period. Essex Savings Bank’s holdings in Danaher were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital International Investors raised its position in Danaher by 10.0% during the first quarter. Capital International Investors now owns 6,802,713 shares of the conglomerate’s stock worth $941,564,000 after acquiring an additional 619,550 shares during the last quarter. Parnassus Investments CA raised its position in shares of Danaher by 0.7% in the first quarter. Parnassus Investments CA now owns 4,876,638 shares of the conglomerate’s stock valued at $674,975,000 after buying an additional 33,333 shares during the last quarter. Legal & General Group Plc raised its position in shares of Danaher by 6.1% in the first quarter. Legal & General Group Plc now owns 4,219,359 shares of the conglomerate’s stock valued at $584,323,000 after buying an additional 241,613 shares during the last quarter. Fred Alger Management LLC raised its position in shares of Danaher by 4.6% in the first quarter. Fred Alger Management LLC now owns 3,508,036 shares of the conglomerate’s stock valued at $485,547,000 after buying an additional 155,156 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Danaher by 11.3% in the first quarter. Pictet Asset Management Ltd. now owns 3,461,644 shares of the conglomerate’s stock valued at $479,126,000 after buying an additional 351,689 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

DHR traded up $1.66 during trading on Friday, hitting $203.80. 1,792,914 shares of the company’s stock were exchanged, compared to its average volume of 2,377,988. The company has a current ratio of 2.20, a quick ratio of 1.74 and a debt-to-equity ratio of 0.68. Danaher Co. has a 1 year low of $119.60 and a 1 year high of $204.13. The stock has a 50 day moving average price of $182.24 and a 200 day moving average price of $161.95. The firm has a market cap of $142.15 billion, a P/E ratio of 43.64, a price-to-earnings-growth ratio of 3.20 and a beta of 0.92.

Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, July 23rd. The conglomerate reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.35. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.01 billion. Danaher had a net margin of 17.73% and a return on equity of 11.88%. Danaher’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. Analysts forecast that Danaher Co. will post 5.42 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, June 26th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.72 dividend on an annualized basis and a yield of 0.35%. Danaher’s dividend payout ratio (DPR) is 16.29%.

A number of research firms have recently weighed in on DHR. Royal Bank of Canada boosted their price objective on shares of Danaher from $205.00 to $218.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Stifel Nicolaus boosted their price objective on shares of Danaher from $170.00 to $210.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Citigroup boosted their price objective on shares of Danaher from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Robert W. Baird upped their price target on shares of Danaher from $163.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Needham & Company LLC upped their price target on shares of Danaher from $183.00 to $209.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $197.73.

In other Danaher news, SVP Daniel Raskas sold 37,082 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.09, for a total value of $6,084,785.38. Following the completion of the transaction, the senior vice president now directly owns 19,723 shares in the company, valued at $3,236,347.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew Mcgrew sold 7,457 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $203.42, for a total transaction of $1,516,902.94. Following the completion of the transaction, the chief financial officer now owns 12,387 shares of the company’s stock, valued at $2,519,763.54. The disclosure for this sale can be found here. Insiders have sold a total of 498,929 shares of company stock worth $94,446,919 over the last quarter. 11.70% of the stock is currently owned by insiders.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

Further Reading: Green Investing

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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