Huntington National Bank lowered its holdings in shares of Danaher Co. (NYSE:DHR) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,483 shares of the conglomerate’s stock after selling 2,352 shares during the quarter. Huntington National Bank’s holdings in Danaher were worth $7,658,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in DHR. FMR LLC grew its position in shares of Danaher by 10.3% during the second quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock worth $2,073,369,000 after purchasing an additional 1,963,116 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Danaher by 77.5% during the second quarter. Renaissance Technologies LLC now owns 1,718,200 shares of the conglomerate’s stock worth $169,552,000 after purchasing an additional 750,000 shares in the last quarter. Bank of Montreal Can grew its position in shares of Danaher by 113.3% during the third quarter. Bank of Montreal Can now owns 1,069,328 shares of the conglomerate’s stock worth $116,195,000 after purchasing an additional 567,990 shares in the last quarter. CIBC World Markets Inc. grew its position in shares of Danaher by 2,228.2% during the second quarter. CIBC World Markets Inc. now owns 525,287 shares of the conglomerate’s stock worth $51,835,000 after purchasing an additional 502,725 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Danaher by 160.4% during the second quarter. PNC Financial Services Group Inc. now owns 776,159 shares of the conglomerate’s stock worth $76,592,000 after purchasing an additional 478,087 shares in the last quarter. Hedge funds and other institutional investors own 77.00% of the company’s stock.
DHR has been the subject of several research analyst reports. Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a report on Wednesday, September 19th. Morgan Stanley raised their price target on Danaher from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. Bank of America set a $113.00 price target on Danaher and gave the company a “buy” rating in a report on Thursday, July 19th. Royal Bank of Canada raised their price target on Danaher to $107.00 and gave the company a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, Robert W. Baird cut their price target on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $112.14.
NYSE DHR opened at $100.39 on Friday. The company has a market cap of $70.84 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.95 and a beta of 1.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.50 and a quick ratio of 1.07. Danaher Co. has a 1-year low of $90.05 and a 1-year high of $110.13.
Danaher (NYSE:DHR) last posted its quarterly earnings data on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.03. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Danaher had a return on equity of 11.67% and a net margin of 14.07%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.00 EPS. As a group, research analysts forecast that Danaher Co. will post 4.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, September 27th. Danaher’s payout ratio is 15.88%.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
Further Reading: Ex-Dividend
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