John G Ullman & Associates Inc. Takes Position in Danaher Corp. (DHR)
John G Ullman & Associates Inc. acquired a new position in Danaher Corp. (NYSE:DHR) during the second quarter, Holdings Channel reports. The fund acquired 2,500 shares of the company’s stock, valued at approximately $252,000.
A number of other hedge funds also recently bought and sold shares of the company. TNB Financial acquired a new stake in Danaher Corp. during the first quarter valued at approximately $418,000. Acadian Asset Management LLC acquired a new stake in Danaher Corp. during the first quarter valued at approximately $6,741,000. Sit Investment Associates Inc. boosted its stake in Danaher Corp. by 139.7% in the first quarter. Sit Investment Associates Inc. now owns 26,965 shares of the company’s stock valued at $2,558,000 after buying an additional 15,716 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in Danaher Corp. by 0.8% in the first quarter. Independent Portfolio Consultants Inc. now owns 7,120 shares of the company’s stock valued at $675,000 after buying an additional 55 shares during the period. Finally, North American Management Corp boosted its stake in Danaher Corp. by 2.7% in the first quarter. North American Management Corp now owns 131,591 shares of the company’s stock valued at $12,483,000 after buying an additional 3,430 shares during the period. Hedge funds and other institutional investors own 75.83% of the company’s stock.
Shares of Danaher Corp. (NYSE:DHR) traded down 0.30% on Friday, reaching $76.57. The company had a trading volume of 8,103,652 shares. The company’s 50-day moving average is $80.65 and its 200 day moving average is $75.68. Danaher Corp. has a 12 month low of $61.60 and a 12 month high of $82.64. The firm has a market capitalization of $52.87 billion, a PE ratio of 15.23 and a beta of 1.13.
Danaher Corp. (NYSE:DHR) last announced its earnings results on Monday, July 25th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.03. Danaher Corp. had a return on equity of 13.40% and a net margin of 15.88%. The firm earned $5.80 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts forecast that Danaher Corp. will post $3.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 annualized dividend and a yield of 0.65%. Danaher Corp.’s payout ratio is 12.72%.
DHR has been the subject of a number of research reports. Credit Suisse Group AG reiterated a “hold” rating on shares of Danaher Corp. in a report on Saturday, July 9th. Bank of America Corp. reiterated a “buy” rating on shares of Danaher Corp. in a report on Sunday, May 29th. JPMorgan Chase & Co. initiated coverage on Danaher Corp. in a report on Tuesday, July 12th. They set a “neutral” rating for the company. Sanford C. Bernstein reiterated a “hold” rating and set a $112.00 target price on shares of Danaher Corp. in a report on Monday, June 13th. Finally, Vetr upgraded Danaher Corp. from a “hold” rating to a “buy” rating and set a $81.69 target price for the company in a report on Monday, September 12th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $95.22.
In related news, insider Thomas Patrick Joyce, Jr. sold 45,897 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $81.44, for a total transaction of $3,737,851.68. Following the completion of the sale, the insider now owns 179,054 shares in the company, valued at approximately $14,582,157.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel L. Comas sold 96,446 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $80.88, for a total value of $7,800,552.48. Following the sale, the chief financial officer now owns 215,716 shares of the company’s stock, valued at approximately $17,447,110.08. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
Danaher Corp. Company Profile
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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