Arrow Financial Corp Lowers Position in Danaher Corporation (NYSE:DHR)

Arrow Financial Corp cut its position in Danaher Corporation (NYSE:DHR - Free Report) by 32.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,012 shares of the conglomerate's stock after selling 3,815 shares during the period. Arrow Financial Corp's holdings in Danaher were worth $1,642,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG raised its stake in Danaher by 22.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock valued at $44,241,000 after purchasing an additional 35,730 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Danaher by 28.0% in the 4th quarter. Proficio Capital Partners LLC now owns 2,566 shares of the conglomerate's stock valued at $589,000 after buying an additional 562 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Danaher in the 4th quarter valued at about $101,000. Quantbot Technologies LP acquired a new stake in Danaher in the 4th quarter worth approximately $2,849,000. Finally, Guardian Partners Inc. acquired a new stake in Danaher in the 4th quarter worth approximately $4,220,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Danaher

In related news, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the completion of the transaction, the chairman directly owned 3,105,808 shares in the company, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher Paul Riley sold 15,805 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total value of $3,129,390.00. Following the transaction, the executive vice president owned 15,179 shares in the company, valued at $3,005,442. This trade represents a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.20% of the company's stock.

Wall Street Analysts Forecast Growth

DHR has been the subject of several recent research reports. Evercore ISI cut their target price on shares of Danaher from $230.00 to $226.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company cut their target price on shares of Danaher from $240.00 to $210.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Danaher from $240.00 to $235.00 in a report on Thursday, June 5th. Leerink Partners boosted their price target on shares of Danaher from $225.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price for the company in a report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $248.48.

Danaher Price Performance

NYSE:DHR traded down $1.82 during trading hours on Monday, hitting $188.23. The company's stock had a trading volume of 5,893,907 shares, compared to its average volume of 3,532,986. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.05. The company has a market capitalization of $134.71 billion, a P/E ratio of 36.55, a PEG ratio of 2.67 and a beta of 0.77. Danaher Corporation has a twelve month low of $171.00 and a twelve month high of $281.70. The stock has a fifty day simple moving average of $196.13 and a 200-day simple moving average of $204.86.

Danaher (NYSE:DHR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. Danaher had a return on equity of 10.80% and a net margin of 15.81%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. On average, analysts anticipate that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.68%. Danaher's payout ratio is presently 24.85%.

Danaher Company 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.