Palmer Knight Co Acquires 6,133 Shares of Danaher Corporation $DHR

Key Points

• Palmer Knight Co increased its holdings in Danaher Corporation by 14.9%, acquiring an additional 6,133 shares, making it the company's second biggest position.
• Danaher Corporation reported quarterly earnings of $1.80 per share, which surpassed analysts' expectations of $1.64, with revenues of $5.94 billion.
• The company recently declared a quarterly dividend of $0.32 per share, which has a yield of 0.6%, payable on October 31st to investors of record as of September 26th.

Palmer Knight Co increased its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 14.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,236 shares of the conglomerate's stock after acquiring an additional 6,133 shares during the period. Danaher comprises about 4.0% of Palmer Knight Co's investment portfolio, making the stock its 2nd biggest position. Palmer Knight Co's holdings in Danaher were worth $9,331,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in DHR. GHP Investment Advisors Inc. boosted its position in Danaher by 396.0% in the first quarter. GHP Investment Advisors Inc. now owns 124 shares of the conglomerate's stock valued at $25,000 after buying an additional 99 shares in the last quarter. Sierra Ocean LLC boosted its position in Danaher by 116.9% in the first quarter. Sierra Ocean LLC now owns 141 shares of the conglomerate's stock valued at $29,000 after buying an additional 76 shares in the last quarter. Red Tortoise LLC boosted its position in Danaher by 175.0% in the second quarter. Red Tortoise LLC now owns 154 shares of the conglomerate's stock valued at $30,000 after buying an additional 98 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Danaher in the first quarter valued at about $31,000. Finally, Ramirez Asset Management Inc. acquired a new position in Danaher in the second quarter valued at about $40,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Danaher Trading Down 0.8%

DHR opened at $209.14 on Friday. 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 company has a market cap of $149.76 billion, a price-to-earnings ratio of 44.50, a price-to-earnings-growth ratio of 2.98 and a beta of 0.77. The firm has a 50 day simple moving average of $201.60 and a 200 day simple moving average of $197.24. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $275.51.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.83 billion. Danaher had a net margin of 14.21% and a return on equity of 10.70%. Danaher's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 earnings per share. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. On average, sell-side analysts anticipate that Danaher Corporation will post 7.63 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, September 26th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's payout ratio is 27.23%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DHR. Rothschild & Co Redburn restated a "neutral" rating and issued a $220.00 price target (down from $245.00) on shares of Danaher in a research report on Wednesday, October 8th. Evercore ISI boosted their price target on shares of Danaher from $226.00 to $245.00 and gave the company an "outperform" rating in a research report on Tuesday, October 7th. Rothschild Redb lowered shares of Danaher from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Scotiabank upgraded shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price on the stock in a research report on Friday, July 11th. Finally, Barclays reiterated an "overweight" rating and set a $225.00 target price (up from $215.00) on shares of Danaher in a research report on Tuesday, June 24th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.00.

Insider Buying and Selling at Danaher

In related news, Director Teri List sold 2,778 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total transaction of $586,324.68. Following the completion of the sale, the director directly owned 20,751 shares of the company's stock, valued at $4,379,706.06. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 11.10% of the stock is currently owned by company insiders.

About Danaher

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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