Legacy Private Trust Co. Sells 3,204 Shares of Danaher Co. (NYSE:DHR)

Legacy Private Trust Co. reduced its stake in Danaher Co. (NYSE:DHR) by 12.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,733 shares of the conglomerate’s stock after selling 3,204 shares during the period. Legacy Private Trust Co.’s holdings in Danaher were worth $4,660,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in Danaher in the 4th quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in shares of Danaher during the fourth quarter valued at approximately $31,000. Hurley Capital LLC purchased a new position in Danaher during the fourth quarter valued at approximately $34,000. Pineridge Advisors LLC increased its holdings in Danaher by 63.3% during the fourth quarter. Pineridge Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $34,000 after buying an additional 57 shares during the period. Finally, Rialto Wealth Management LLC purchased a new position in Danaher during the fourth quarter valued at approximately $34,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Trading Up 0.7%

NYSE DHR opened at $190.38 on Friday. The company has a market capitalization of $136.25 billion, a PE ratio of 36.06, a P/E/G ratio of 2.66 and a beta of 0.80. The company has a fifty day moving average of $193.18 and a 200 day moving average of $214.13. Danaher Co. has a 1 year low of $171.00 and a 1 year high of $281.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.05.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.58 billion. Danaher had a net margin of 16.33% and a return on equity of 10.82%. Research analysts forecast that Danaher Co. will post 7.63 earnings per share for the current year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.67%. Danaher’s dividend payout ratio (DPR) is currently 24.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DHR. Stifel Nicolaus raised shares of Danaher from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Friday, March 14th. Barclays lifted their price objective on shares of Danaher from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, April 22nd. UBS Group cut their price objective on shares of Danaher from $275.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. HSBC cut their price objective on shares of Danaher from $270.00 to $240.00 in a report on Friday, April 25th. Finally, Wells Fargo & Company cut their price objective on shares of Danaher from $280.00 to $240.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.24.

Insiders Place Their Bets

In other news, EVP Christopher Paul Riley sold 15,805 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $198.00, for a total transaction of $3,129,390.00. Following the completion of the sale, the executive vice president now owns 15,179 shares of the company’s stock, valued at $3,005,442. The trade was a 51.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven M. Rales sold 1,250,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman now directly owns 3,105,808 shares of the company’s stock, valued at approximately $611,036,665.92. This represents a 28.70% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.20% of the company’s stock.

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.