Fifth Third Bancorp lifted its stake in shares of Danaher Corporation (NYSE:DHR – Free Report) by 24.8% during the 1st quarter, HoldingsChannel reports. The firm owned 596,529 shares of the conglomerate’s stock after purchasing an additional 118,435 shares during the quarter. Fifth Third Bancorp’s holdings in Danaher were worth $113,102,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Enterprise Financial Services Corp boosted its stake in Danaher by 1.4% during the fourth quarter. Enterprise Financial Services Corp now owns 3,219 shares of the conglomerate’s stock worth $737,000 after buying an additional 46 shares during the last quarter. Kennebec Savings Bank increased its stake in shares of Danaher by 1.4% in the 4th quarter. Kennebec Savings Bank now owns 3,348 shares of the conglomerate’s stock worth $766,000 after acquiring an additional 46 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Danaher by 2.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,870 shares of the conglomerate’s stock worth $428,000 after acquiring an additional 47 shares during the period. High Note Wealth LLC raised its holdings in shares of Danaher by 19.2% during the 4th quarter. High Note Wealth LLC now owns 292 shares of the conglomerate’s stock worth $67,000 after acquiring an additional 47 shares during the period. Finally, First Command Advisory Services Inc. boosted its position in shares of Danaher by 4.4% during the 4th quarter. First Command Advisory Services Inc. now owns 1,104 shares of the conglomerate’s stock valued at $253,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
Danaher Trading Up 1.6%
NYSE DHR traded up $3.13 during trading hours on Friday, reaching $199.11. The company had a trading volume of 3,847,629 shares, compared to its average volume of 3,706,558. The company has a current ratio of 1.87, a quick ratio of 1.52 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $140.92 billion, a P/E ratio of 38.51, a price-to-earnings-growth ratio of 2.54 and a beta of 0.79. The stock has a 50-day moving average of $180.59 and a 200 day moving average of $199.48. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80.
Danaher Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Danaher’s payout ratio is presently 30.95%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Danaher from $275.00 to $245.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Citigroup started coverage on shares of Danaher in a research note on Tuesday, May 26th. They issued a “buy” rating and a $230.00 price target for the company. Weiss Ratings downgraded shares of Danaher from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, June 29th. Guggenheim decreased their price objective on Danaher from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company lowered their price objective on Danaher from $240.00 to $212.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.64.
Get Our Latest Analysis on Danaher
Danaher Company Profile
Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.
Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.
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