Danaher Co. (NYSE:DHR) Stake Raised by Eastern Bank

Eastern Bank grew its holdings in shares of Danaher Co. (NYSE:DHR) by 2,884.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 105,136 shares of the conglomerate’s stock after purchasing an additional 101,613 shares during the quarter. Eastern Bank’s holdings in Danaher were worth $29,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. AdvisorNet Financial Inc increased its stake in shares of Danaher by 11.3% during the first quarter. AdvisorNet Financial Inc now owns 758 shares of the conglomerate’s stock valued at $189,000 after acquiring an additional 77 shares during the period. CGN Advisors LLC acquired a new position in shares of Danaher during the first quarter valued at approximately $205,000. Austin Private Wealth LLC increased its stake in shares of Danaher by 3.0% during the first quarter. Austin Private Wealth LLC now owns 1,566 shares of the conglomerate’s stock valued at $383,000 after acquiring an additional 46 shares during the period. Riverview Trust Co acquired a new position in shares of Danaher during the first quarter valued at approximately $119,000. Finally, Dynamic Advisor Solutions LLC increased its stake in shares of Danaher by 8.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 7,744 shares of the conglomerate’s stock valued at $1,934,000 after acquiring an additional 591 shares during the period. Institutional investors own 79.05% of the company’s stock.

Insider Activity at Danaher

In other news, CFO Matthew Mcgrew sold 16,172 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the transaction, the chief financial officer now owns 29,407 shares in the company, valued at approximately $8,229,254.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Brian W. Ellis sold 9,600 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $275.16, for a total transaction of $2,641,536.00. Following the transaction, the senior vice president now directly owns 20,230 shares in the company, valued at approximately $5,566,486.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Mcgrew sold 16,172 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the transaction, the chief financial officer now owns 29,407 shares in the company, valued at $8,229,254.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,659 shares of company stock valued at $11,042,433. Insiders own 11.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on DHR shares. TD Cowen lifted their price target on shares of Danaher from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stephens started coverage on shares of Danaher in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $315.00 price target on the stock. Evercore ISI lifted their price target on shares of Danaher from $275.00 to $278.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Barclays lifted their price target on shares of Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $282.12.

Danaher Stock Down 3.2 %

Shares of NYSE:DHR traded down $8.68 during trading on Tuesday, reaching $263.41. 2,253,191 shares of the company traded hands, compared to its average volume of 2,713,694. The firm has a fifty day simple moving average of $270.82 and a 200 day simple moving average of $260.34. The firm has a market cap of $195.10 billion, a P/E ratio of 46.15, a price-to-earnings-growth ratio of 4.49 and a beta of 0.83. Danaher Co. has a 1-year low of $182.09 and a 1-year high of $281.70. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.33.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts anticipate that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, September 27th. Danaher’s payout ratio is presently 18.31%.

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.