Danaher Corporation $DHR Stock Position Lowered by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in Danaher Corporation (NYSE:DHR) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 467,491 shares of the conglomerate’s stock after selling 23,109 shares during the period. Fifth Third Bancorp owned about 0.07% of Danaher worth $103,573,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Gunderson Capital Management LLC acquired a new position in shares of Danaher in the 3rd quarter valued at about $765,000. EP Wealth Advisors LLC acquired a new stake in shares of Danaher during the second quarter worth approximately $3,807,000. Frank Rimerman Advisors LLC boosted its holdings in shares of Danaher by 181.9% during the third quarter. Frank Rimerman Advisors LLC now owns 40,855 shares of the conglomerate’s stock worth $9,051,000 after purchasing an additional 26,363 shares during the period. Birch Hill Investment Advisors LLC boosted its holdings in shares of Danaher by 9.6% during the third quarter. Birch Hill Investment Advisors LLC now owns 40,549 shares of the conglomerate’s stock worth $8,984,000 after purchasing an additional 3,553 shares during the period. Finally, Forbes J M & Co. LLP grew its position in Danaher by 141.6% during the third quarter. Forbes J M & Co. LLP now owns 4,276 shares of the conglomerate’s stock valued at $947,000 after purchasing an additional 2,506 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Buying and Selling at Danaher

In related news, EVP Gregory M. Milosevich sold 2,100 shares of Danaher stock in a transaction on Monday, November 9th. The shares were sold at an average price of $230.62, for a total value of $484,302.00. Following the completion of the sale, the executive vice president owned 22,367 shares of the company’s stock, valued at approximately $5,158,277.54. The trade was a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher Bouda sold 7,598 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the completion of the sale, the chief accounting officer owned 9,107 shares of the company’s stock, valued at $2,136,137.92. This represents a 45.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.80% of the company’s stock.

Danaher Trading Down 0.3%

Shares of NYSE DHR opened at $235.47 on Thursday. The stock has a market cap of $165.66 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 2.96 and a beta of 0.76. The business has a 50 day simple moving average of $221.67 and a 200 day simple moving average of $201.56. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.29 and a current ratio of 1.63.

Danaher (NYSE:DHR) last released its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.19. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.56 billion. Danaher had a return on equity of 11.17% and a net margin of 16.91%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. On average, research analysts predict that Danaher Corporation will post 8.59 earnings per share for the current fiscal year.

Danaher Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher’s dividend payout ratio is 26.19%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Danaher from $250.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $275.00 target price on shares of Danaher in a research note on Thursday, October 22nd. Guggenheim lifted their target price on shares of Danaher from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Morgan Stanley boosted their price target on shares of Danaher from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $240.00 price target on shares of Danaher in a research note on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.91.

Danaher Company Profile

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company’s businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.