Penobscot Investment Management Company Inc. Reduces Stock Position in Danaher Corporation (NYSE:DHR)

Penobscot Investment Management Company Inc. cut its stake in Danaher Corporation (NYSE:DHR - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,632 shares of the conglomerate's stock after selling 1,805 shares during the quarter. Danaher accounts for about 1.2% of Penobscot Investment Management Company Inc.'s investment portfolio, making the stock its 23rd largest holding. Penobscot Investment Management Company Inc.'s holdings in Danaher were worth $12,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Danaher by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 59,750,122 shares of the conglomerate's stock worth $13,715,641,000 after acquiring an additional 315,912 shares during the period. Geode Capital Management LLC grew its stake in shares of Danaher by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 13,358,206 shares of the conglomerate's stock worth $3,056,996,000 after acquiring an additional 315,446 shares during the period. Norges Bank bought a new stake in shares of Danaher in the fourth quarter worth approximately $2,130,740,000. Northern Trust Corp grew its stake in shares of Danaher by 14.3% in the fourth quarter. Northern Trust Corp now owns 7,934,991 shares of the conglomerate's stock worth $1,821,477,000 after acquiring an additional 992,594 shares during the period. Finally, Capital World Investors grew its stake 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 worth $1,460,215,000 after acquiring an additional 1,566,658 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DHR has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Danaher from $240.00 to $235.00 in a research note on Thursday, June 5th. Barclays boosted their target price on shares of Danaher from $215.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday. Guggenheim reiterated a "buy" rating and issued a $250.00 price target on shares of Danaher in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wolfe Research reduced their price objective on Danaher from $275.00 to $220.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $248.61.

Danaher Price Performance

Shares of NYSE:DHR opened at $200.85 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.05. Danaher Corporation has a 1-year low of $171.00 and a 1-year high of $281.70. The company has a market capitalization of $143.74 billion, a P/E ratio of 39.00, a P/E/G ratio of 2.77 and a beta of 0.77. The firm's 50 day simple moving average is $194.31 and its two-hundred day simple moving average is $209.00.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Danaher had a net margin of 15.81% and a return on equity of 10.80%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.58 billion. Research analysts expect that Danaher Corporation will post 7.63 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.64%. Danaher's dividend payout ratio (DPR) is presently 24.85%.

Insider Transactions at Danaher

In other news, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction on 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 transaction, the chairman now owns 3,105,808 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Christopher Paul Riley sold 15,805 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 15,179 shares in the company, valued at $3,005,442. This trade represents a 51.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.10% of the company's stock.

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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