Grove Bank & Trust Buys 104 Shares of Danaher Co. (NYSE:DHR)

Grove Bank & Trust raised its position in Danaher Co. (NYSE:DHR) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,493 shares of the conglomerate’s stock after buying an additional 104 shares during the period. Grove Bank & Trust’s holdings in Danaher were worth $693,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oak Thistle LLC bought a new position in Danaher in the 2nd quarter worth approximately $363,000. HighPoint Advisor Group LLC bought a new position in Danaher in the 4th quarter valued at $2,614,000. Norden Group LLC bought a new position in Danaher in the 1st quarter valued at $4,151,000. Duality Advisers LP bought a new position in Danaher in the 1st quarter valued at $5,573,000. Finally, Investment Research & Advisory Group Inc. bought a new position in Danaher in the 1st quarter valued at $1,186,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

DHR stock traded up $0.17 during mid-day trading on Monday, reaching $270.50. 507,130 shares of the company’s stock were exchanged, compared to its average volume of 2,715,832. The company has a market cap of $200.36 billion, a price-to-earnings ratio of 45.82, a price-to-earnings-growth ratio of 4.49 and a beta of 0.83. The stock’s 50 day moving average is $270.31 and its 200 day moving average is $259.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04. Danaher Co. has a 12-month low of $182.09 and a 12-month high of $281.70.

Danaher (NYSE:DHR) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. Danaher had a return on equity of 11.06% and a net margin of 16.94%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter last year, the business posted $2.05 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that Danaher Co. will post 7.59 EPS for the current year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be issued a $0.27 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.40%. Danaher’s dividend payout ratio is presently 18.31%.

Insider Activity at Danaher

In related news, CEO Rainer Blair sold 9,007 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the sale, the chief executive officer now owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Brian W. Ellis sold 9,600 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $275.16, for a total value of $2,641,536.00. Following the completion of the sale, the senior vice president now directly owns 20,230 shares of the company’s stock, valued at approximately $5,566,486.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rainer Blair sold 9,007 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the transaction, the chief executive officer now owns 97,983 shares in the company, valued at $27,435,240. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,659 shares of company stock valued at $11,042,433. 11.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DHR shares. Wells Fargo & Company initiated coverage on shares of Danaher in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Danaher from $235.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Stephens assumed coverage on shares of Danaher in a research note on Tuesday, October 1st. They set an “overweight” rating and a $315.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Evercore ISI lifted their target price on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $282.12.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.