First Fiduciary Investment Counsel Inc. lowered its stake in shares of Danaher Corporation (NYSE:DHR – Free Report) by 5.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 41,957 shares of the conglomerate’s stock after selling 2,187 shares during the quarter. Danaher accounts for about 1.8% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 27th largest holding. First Fiduciary Investment Counsel Inc.’s holdings in Danaher were worth $9,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Danaher in the 2nd quarter valued at $10,492,520,000. Jupiter Topco LLC acquired a new stake in shares of Danaher during the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP acquired a new stake in shares of Danaher during the 2nd quarter worth $1,287,949,000. Bank of America Corp DE acquired a new stake in shares of Danaher during the 2nd quarter worth $993,846,000. Finally, Legal & General Group Plc bought a new position in shares of Danaher in the second quarter worth $801,056,000. Institutional investors own 79.05% of the company’s stock.
Danaher Price Performance
Danaher stock opened at $233.72 on Thursday. 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 Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The stock has a market capitalization of $164.43 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76. The stock has a fifty day moving average of $218.10 and a 200-day moving average of $201.81.
Danaher (NYSE:DHR – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.19. The business had revenue of $6.55 billion during 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%. Danaher’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 EPS. On average, sell-side analysts expect that Danaher Corporation will post 8.59 earnings per share for the current fiscal year.
Danaher Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.7%. Danaher’s payout ratio is presently 26.19%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on DHR shares. Wells Fargo & Company dropped their price target on Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Danaher from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. Wall Street Zen upgraded shares of Danaher from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup raised their target price on shares of Danaher from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, UBS Group restated a “buy” rating and issued a $260.00 target price on shares of Danaher in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.91.
Check Out Our Latest Stock Report on DHR
Danaher Profile
Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.
The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.
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