PFC Capital Group Inc. Cuts Position in Danaher Corporation $DHR

PFC Capital Group Inc. reduced its stake in shares of Danaher Corporation (NYSE:DHR) by 59.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,194 shares of the conglomerate’s stock after selling 1,740 shares during the quarter. PFC Capital Group Inc.’s holdings in Danaher were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Red Tortoise LLC increased its stake in Danaher by 175.0% in the 2nd quarter. Red Tortoise LLC now owns 154 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 98 shares in the last quarter. Costello Asset Management INC acquired a new stake in Danaher in the first quarter valued at $41,000. Ramirez Asset Management Inc. purchased a new position in shares of Danaher in the second quarter valued at $40,000. Strengthening Families & Communities LLC raised its stake in shares of Danaher by 81.4% during the 1st quarter. Strengthening Families & Communities LLC now owns 254 shares of the conglomerate’s stock worth $52,000 after buying an additional 114 shares during the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of Danaher in the 1st quarter worth about $52,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank Of Canada set a $241.00 target price on shares of Danaher in a report on Tuesday, September 2nd. Redburn Partners set a $220.00 price objective on shares of Danaher in a research note on Wednesday, October 8th. TD Cowen lifted their price objective on Danaher from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Robert W. Baird set a $247.00 target price on Danaher in a report on Wednesday, October 22nd. Finally, Cowen reissued a “buy” rating on shares of Danaher in a report on Wednesday, October 22nd. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.39.

Danaher Trading Up 2.3%

Shares of DHR opened at $227.34 on Monday. The stock has a fifty day moving average of $208.58 and a two-hundred day moving average of $202.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.10 and a current ratio of 1.52. The company has a market capitalization of $160.58 billion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 3.28 and a beta of 0.81. Danaher Corporation has a fifty-two week low of $171.00 and a fifty-two week high of $258.23.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Monday, October 20th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6 billion. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.71 earnings per share. As a group, analysts forecast that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, September 26th were issued a $0.32 dividend. The ex-dividend date was Friday, September 26th. This represents a $1.28 annualized dividend and a yield of 0.6%. Danaher’s payout ratio is 26.39%.

Insider Activity

In related news, Director Teri List sold 3,298 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $226.50, for a total transaction of $746,997.00. Following the completion of the transaction, the director owned 20,762 shares of the company’s stock, valued at approximately $4,702,593. This represents a 13.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brian W. Ellis sold 21,776 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $219.23, for a total transaction of $4,773,952.48. Following the transaction, the senior vice president directly owned 14,553 shares in the company, valued at approximately $3,190,454.19. This represents a 59.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,248 shares of company stock valued at $6,609,663 in the last 90 days. 11.10% of the stock is currently owned by insiders.

Danaher Company 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.