Spinnaker Trust Sells 155 Shares of Danaher Co. (NYSE:DHR)

Spinnaker Trust reduced its position in shares of Danaher Co. (NYSE:DHR) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,254 shares of the conglomerate’s stock after selling 155 shares during the period. Spinnaker Trust’s holdings in Danaher were worth $1,183,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Danaher in the 2nd quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Danaher during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in Danaher in the second quarter worth $51,000. Financial Connections Group Inc. purchased a new position in Danaher during the 2nd quarter worth $51,000. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Danaher during the first quarter valued at about $55,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

Shares of NYSE:DHR traded down $3.47 during midday trading on Wednesday, hitting $246.60. The company’s stock had a trading volume of 730,389 shares, compared to its average volume of 2,733,946. The company has a market cap of $178.11 billion, a P/E ratio of 47.74, a price-to-earnings-growth ratio of 4.55 and a beta of 0.85. The business’s 50 day simple moving average is $266.16 and its 200 day simple moving average is $260.84. Danaher Co. has a 12-month low of $192.35 and a 12-month high of $281.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period last year, the company earned $2.02 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Danaher Co. will post 7.51 EPS for the current year.

Danaher Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, September 27th. Danaher’s payout ratio is 20.61%.

Insider Transactions at Danaher

In related news, SVP Georgeann Couchara sold 952 shares of Danaher stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the transaction, the senior vice president now owns 4,212 shares in the company, valued at approximately $1,130,374.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stephens reaffirmed an “overweight” rating and set a $315.00 target price on shares of Danaher in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Bank of America increased their price objective on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. UBS Group decreased their price objective on Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their price target on Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Danaher presently has an average rating of “Moderate Buy” and a consensus price target of $287.16.

Danaher 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.