Palmer Knight Co Sells 83 Shares of Danaher Co. (NYSE:DHR)

Palmer Knight Co cut its stake in Danaher Co. (NYSE:DHR) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,562 shares of the conglomerate’s stock after selling 83 shares during the period. Danaher comprises approximately 3.7% of Palmer Knight Co’s holdings, making the stock its 11th largest holding. Palmer Knight Co’s holdings in Danaher were worth $8,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Danaher in the second quarter valued at about $25,000. nVerses Capital LLC acquired a new position in shares of Danaher in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Danaher in the 2nd quarter worth approximately $51,000. Financial Connections Group Inc. bought a new stake in Danaher during the 2nd quarter worth approximately $51,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Danaher during the 1st quarter valued at $55,000. Institutional investors own 79.05% of the company’s stock.

Insider Buying and Selling

In other Danaher news, SVP Georgeann Couchara sold 952 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $268.37, for a total value of $255,488.24. Following the completion of the sale, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.90% of the stock is currently owned by company insiders.

Danaher Price Performance

Shares of DHR opened at $246.10 on Friday. The stock has a market cap of $177.75 billion, a P/E ratio of 46.97, a price-to-earnings-growth ratio of 4.54 and a beta of 0.85. Danaher Co. has a 1 year low of $192.35 and a 1 year high of $281.70. The stock’s 50-day moving average price is $265.79 and its two-hundred day moving average price is $260.75. The company has a current ratio of 1.37, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32.

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

Danaher Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on DHR. The Goldman Sachs Group boosted their price objective on Danaher from $225.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Bank of America upped their price target on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Raymond James lowered their price objective on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. KeyCorp upped their target price on shares of Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Stephens reissued an “overweight” rating and issued a $315.00 price target on shares of Danaher in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Danaher presently has an average rating of “Moderate Buy” and a consensus target price of $287.16.

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.