Stokes Capital Advisors LLC trimmed its position in Danaher Co. (NYSE:DHR) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,090 shares of the conglomerate’s stock after selling 1,300 shares during the period. Danaher accounts for 2.1% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Stokes Capital Advisors LLC’s holdings in Danaher were worth $4,326,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DHR. Provident Wealth Management LLC bought a new position in Danaher in the 3rd quarter valued at $27,000. Howe & Rusling Inc. lifted its holdings in shares of Danaher by 81.4% during the 2nd quarter. Howe & Rusling Inc. now owns 156 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 70 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in shares of Danaher during the 2nd quarter worth $35,000. Trustcore Financial Services LLC lifted its holdings in shares of Danaher by 36.9% during the 2nd quarter. Trustcore Financial Services LLC now owns 230 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 62 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Danaher by 1,055.6% during the 1st quarter. Prestige Wealth Management Group LLC now owns 312 shares of the conglomerate’s stock worth $43,000 after acquiring an additional 285 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.
In other Danaher news, CEO Thomas Patrick Joyce, Jr. sold 181,394 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $193.98, for a total value of $35,186,808.12. Following the transaction, the chief executive officer now owns 285,569 shares in the company, valued at $55,394,674.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William King sold 26,982 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $199.09, for a total transaction of $5,371,846.38. Following the completion of the transaction, the senior vice president now owns 29,821 shares in the company, valued at approximately $5,937,062.89. The disclosure for this sale can be found here. Insiders sold 530,474 shares of company stock worth $104,501,669 in the last 90 days. Corporate insiders own 11.70% of the company’s stock.
Danaher (NYSE:DHR) last posted its quarterly earnings results on Thursday, July 23rd. The conglomerate reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.35. Danaher had a net margin of 17.73% and a return on equity of 11.88%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts expect that Danaher Co. will post 5.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, September 28th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, September 25th. Danaher’s payout ratio is 16.29%.
A number of research firms have recently issued reports on DHR. Royal Bank of Canada lifted their price objective on shares of Danaher from $205.00 to $218.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. UBS Group lifted their price objective on shares of Danaher from $176.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Stifel Nicolaus lifted their price objective on shares of Danaher from $170.00 to $210.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Wells Fargo & Company reaffirmed a “buy” rating and set a $234.00 price objective on shares of Danaher in a report on Tuesday, September 29th. Finally, Jefferies Financial Group lifted their price objective on shares of Danaher from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Danaher has an average rating of “Buy” and an average price target of $202.00.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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