Cranbrook Wealth Management LLC Buys 1,338 Shares of Danaher Co. (NYSE:DHR)

Cranbrook Wealth Management LLC increased its stake in shares of Danaher Co. (NYSE:DHR) by 4,460.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,368 shares of the conglomerate’s stock after purchasing an additional 1,338 shares during the period. Cranbrook Wealth Management LLC’s holdings in Danaher were worth $342,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. increased its holdings in Danaher by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 1,830 shares of the conglomerate’s stock worth $423,000 after acquiring an additional 86 shares during the period. Accretive Wealth Partners LLC raised its position in shares of Danaher by 12.9% in the fourth quarter. Accretive Wealth Partners LLC now owns 3,632 shares of the conglomerate’s stock worth $840,000 after buying an additional 414 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Danaher by 19.1% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,917 shares of the conglomerate’s stock valued at $675,000 after buying an additional 468 shares during the period. TrinityPoint Wealth LLC grew its position in Danaher by 12.4% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,469 shares of the conglomerate’s stock worth $340,000 after buying an additional 162 shares in the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Danaher by 38.7% in the 4th quarter. Hillsdale Investment Management Inc. now owns 215 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Trading Up 0.7 %

Shares of DHR opened at $276.06 on Tuesday. The firm has a fifty day simple moving average of $265.25 and a two-hundred day simple moving average of $256.67. Danaher Co. has a twelve month low of $182.09 and a twelve month high of $281.70. The stock has a market capitalization of $204.47 billion, a P/E ratio of 46.79, a PEG ratio of 4.48 and a beta of 0.83. 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 posted its earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. The company had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a return on equity of 11.06% and a net margin of 16.94%. Danaher’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $2.05 earnings per share. On average, research analysts anticipate that Danaher Co. will post 7.59 EPS for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.39%. Danaher’s dividend payout ratio is presently 18.31%.

Analysts Set New Price Targets

Several brokerages have recently commented on DHR. Bank of America boosted their price objective on Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. The Goldman Sachs Group increased their price target on shares of Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays lifted their price objective on shares of Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Evercore ISI reduced their target price on Danaher from $266.00 to $260.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Danaher in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $278.94.

Insider Activity at Danaher

In other Danaher news, CEO Rainer Blair sold 9,007 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the completion of the transaction, the chief executive officer now directly owns 97,983 shares in the company, valued at approximately $27,435,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Matthew Mcgrew sold 16,172 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total value of $4,525,572.48. Following the sale, the chief financial officer now directly owns 29,407 shares of the company’s stock, valued at $8,229,254.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Rainer Blair sold 9,007 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total value of $2,521,960.00. Following the transaction, the chief executive officer now directly owns 97,983 shares of the company’s stock, valued at approximately $27,435,240. The disclosure for this sale can be found here. Insiders have sold a total of 39,659 shares of company stock worth $11,042,433 over the last quarter. Corporate insiders own 11.10% 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.