Penobscot Investment Management Company Inc. Has $14.33 Million Stake in Danaher Co. (NYSE:DHR)

Penobscot Investment Management Company Inc. lowered its stake in Danaher Co. (NYSE:DHR) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,437 shares of the conglomerate’s stock after selling 5,464 shares during the quarter. Danaher accounts for approximately 1.3% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 18th largest position. Penobscot Investment Management Company Inc.’s holdings in Danaher were worth $14,332,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DHR. Howard Capital Management Group LLC boosted its position in Danaher by 4.1% in the third quarter. Howard Capital Management Group LLC now owns 1,229 shares of the conglomerate’s stock worth $342,000 after purchasing an additional 48 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Danaher by 3.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 1,646 shares of the conglomerate’s stock worth $458,000 after purchasing an additional 61 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Danaher by 212.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,753 shares of the conglomerate’s stock worth $765,000 after purchasing an additional 1,872 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in Danaher by 544.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 954 shares of the conglomerate’s stock valued at $265,000 after purchasing an additional 806 shares during the last quarter. Finally, DRW Securities LLC grew its holdings in Danaher by 100.1% during the third quarter. DRW Securities LLC now owns 3,081 shares of the conglomerate’s stock valued at $857,000 after purchasing an additional 1,541 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Trading Down 0.2 %

NYSE DHR opened at $212.36 on Wednesday. The stock’s 50-day simple moving average is $216.41 and its two-hundred day simple moving average is $237.75. Danaher Co. has a twelve month low of $196.80 and a twelve month high of $281.70. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $151.78 billion, a price-to-earnings ratio of 40.22, a PEG ratio of 2.66 and a beta of 0.82.

Danaher (NYSE:DHR) last issued its earnings results on Wednesday, January 29th. The conglomerate reported $2.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.14. Danaher had a return on equity of 10.82% and a net margin of 16.33%. During the same period last year, the company earned $2.09 earnings per share. Research analysts forecast that Danaher Co. will post 7.63 EPS for the current fiscal year.

Danaher Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, March 28th. This is a boost from Danaher’s previous quarterly dividend of $0.27. Danaher’s dividend payout ratio (DPR) is presently 24.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Danaher from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group cut their target price on shares of Danaher from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup lowered their price target on shares of Danaher from $285.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $277.00 price objective (down from $299.00) on shares of Danaher in a research note on Thursday, January 30th. Finally, Raymond James restated a “market perform” rating on shares of Danaher in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.24.

Insider Buying and Selling at Danaher

In other news, SVP Brian W. Ellis sold 5,700 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $224.13, for a total value of $1,277,541.00. Following the completion of the sale, the senior vice president now owns 20,230 shares of the company’s stock, valued at approximately $4,534,149.90. The trade was a 21.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.