First National Trust Co Sells 6,363 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• First National Trust Co reduced its holdings in Danaher Corporation by 28.2%, selling 6,363 shares, which left it with 16,177 shares valued at approximately $3.32 million.
• In a recent insider transaction, Danaher Chairman Steven M. Rales sold 1.25 million shares for about $245.9 million, decreasing his ownership by 28.70%.
• Danaher reported positive earnings, with a net income of $1.80 per share, surpassing the analyst estimate of $1.64, and experiencing a 3.4% year-over-year revenue increase to $5.94 billion.

First National Trust Co cut its position in Danaher Corporation (NYSE:DHR - Free Report) by 28.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,177 shares of the conglomerate's stock after selling 6,363 shares during the quarter. First National Trust Co's holdings in Danaher were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bank Pictet & Cie Europe AG increased its holdings in shares of Danaher by 22.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock worth $44,241,000 after buying an additional 35,730 shares during the last quarter. Weitz Investment Management Inc. increased its holdings in shares of Danaher by 14.9% in the 4th quarter. Weitz Investment Management Inc. now owns 403,210 shares of the conglomerate's stock worth $92,557,000 after buying an additional 52,300 shares during the last quarter. RFG Bristol Wealth Advisors LLC bought a new position in shares of Danaher in the 4th quarter worth $1,143,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Danaher by 2.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,679,156 shares of the conglomerate's stock worth $844,550,000 after buying an additional 96,174 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of Danaher in the 4th quarter worth $491,000. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Danaher

In other news, Chairman Steven M. Rales sold 1,250,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $196.74, for a total value of $245,925,000.00. Following the completion of the sale, the chairman directly owned 3,105,808 shares of the company's stock, valued at approximately $611,036,665.92. This trade represents a 28.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 11.10% of the company's stock.

Danaher Trading Down 0.0%

DHR traded down $0.08 during trading on Friday, hitting $197.08. 5,736,543 shares of the stock traded hands, compared to its average volume of 4,375,955. The firm has a market capitalization of $141.12 billion, a P/E ratio of 41.93, a price-to-earnings-growth ratio of 2.74 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.62 and a quick ratio of 1.22. The firm has a 50-day moving average of $197.49 and a 200 day moving average of $202.68. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.90.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. Danaher had a net margin of 14.21% and a return on equity of 10.70%. The business had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.83 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, June 27th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. Danaher's dividend payout ratio is 27.23%.

Analyst Ratings Changes

A number of equities analysts have recently commented on DHR shares. Scotiabank raised shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 price target on the stock in a report on Friday, July 11th. Argus decreased their price target on shares of Danaher from $260.00 to $240.00 in a report on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating on shares of Danaher in a report on Monday, April 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $250.00 target price on shares of Danaher in a report on Wednesday, April 23rd. Finally, Robert W. Baird increased their target price on shares of Danaher from $225.00 to $226.00 and gave the company an "outperform" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Danaher has an average rating of "Moderate Buy" and a consensus target price of $247.61.

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.