OLD National Bancorp IN Has $13.93 Million Position in Danaher Co. (NYSE:DHR)

OLD National Bancorp IN cut its stake in shares of Danaher Co. (NYSE:DHR - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,955 shares of the conglomerate's stock after selling 3,263 shares during the quarter. OLD National Bancorp IN's holdings in Danaher were worth $13,931,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DHR. Norges Bank bought a new position in shares of Danaher during the fourth quarter valued at $2,130,740,000. GAMMA Investing LLC raised its holdings in shares of Danaher by 24,958.2% in the first quarter. GAMMA Investing LLC now owns 1,870,847 shares of the conglomerate's stock valued at $383,524,000 after buying an additional 1,863,381 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Danaher in the fourth quarter valued at about $391,172,000. Two Sigma Advisers LP raised its holdings in shares of Danaher by 4,248.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,639,500 shares of the conglomerate's stock valued at $376,347,000 after buying an additional 1,601,800 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Danaher by 32.7% in the fourth quarter. Capital World Investors now owns 6,361,183 shares of the conglomerate's stock valued at $1,460,215,000 after buying an additional 1,566,658 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on DHR. Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a research report on Sunday, June 1st. Jefferies Financial Group cut their price target on shares of Danaher from $260.00 to $230.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Guggenheim reissued a "buy" rating and set a $250.00 price objective on shares of Danaher in a research report on Wednesday, April 23rd. UBS Group lowered their price objective on shares of Danaher from $275.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Danaher from $260.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Danaher has an average rating of "Moderate Buy" and a consensus target price of $263.24.

Insider Activity

In related news, Chairman Steven M. Rales sold 1,250,000 shares of Danaher stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman now directly owns 3,105,808 shares in the company, valued at $611,036,665.92. This trade represents a 28.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher Paul Riley sold 15,805 shares of Danaher stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the sale, the executive vice president now owns 15,179 shares in the company, valued at approximately $3,005,442. This represents a 51.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.

Danaher Price Performance

NYSE:DHR opened at $196.13 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 1.40. Danaher Co. has a 52 week low of $171.00 and a 52 week high of $281.70. The firm has a market cap of $140.36 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 2.66 and a beta of 0.77. The firm's 50-day simple moving average is $191.34 and its 200 day simple moving average is $212.19.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Danaher had a net margin of 16.33% and a return on equity of 10.82%. The firm had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.58 billion. As a group, sell-side analysts predict that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.65%. Danaher's payout ratio is currently 24.85%.

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.

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