Westpac Banking Corp increased its holdings in Danaher Co. (NYSE:DHR) by 48.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 176,546 shares of the conglomerate’s stock after acquiring an additional 57,716 shares during the period. Westpac Banking Corp’s holdings in Danaher were worth $23,308,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of DHR. CX Institutional boosted its position in shares of Danaher by 188.7% during the first quarter. CX Institutional now owns 205 shares of the conglomerate’s stock worth $27,000 after buying an additional 134 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in shares of Danaher in the fourth quarter valued at $27,000. Lenox Wealth Management Inc. acquired a new stake in shares of Danaher in the first quarter valued at $40,000. Hanson McClain Inc. raised its stake in shares of Danaher by 852.9% in the fourth quarter. Hanson McClain Inc. now owns 324 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 290 shares in the last quarter. Finally, Executive Wealth Management LLC acquired a new stake in shares of Danaher in the fourth quarter valued at $39,000. Institutional investors own 78.93% of the company’s stock.
In other Danaher news, SVP Angela S. Lalor sold 3,091 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $132.23, for a total value of $408,722.93. Following the sale, the senior vice president now directly owns 38,515 shares in the company, valued at $5,092,838.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William King sold 12,950 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $129.92, for a total value of $1,682,464.00. Following the completion of the sale, the senior vice president now owns 29,070 shares in the company, valued at $3,776,774.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 453,448 shares of company stock worth $59,724,640. 11.40% of the stock is owned by insiders.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, April 18th. The conglomerate reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.06. Danaher had a return on equity of 11.61% and a net margin of 12.04%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the firm earned $0.99 earnings per share. Danaher’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts expect that Danaher Co. will post 4.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, June 27th. Danaher’s dividend payout ratio is presently 15.04%.
Several analysts have recently issued reports on DHR shares. Janney Montgomery Scott upgraded Danaher from a “neutral” rating to a “buy” rating in a research note on Monday, February 25th. UBS Group increased their price objective on Danaher from $125.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Deutsche Bank increased their price objective on Danaher to $130.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Jefferies Financial Group increased their price objective on Danaher to $140.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $138.00 price objective (up from $114.00) on shares of Danaher in a research note on Thursday, February 28th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Danaher presently has an average rating of “Buy” and an average price target of $133.00.
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Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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