Montecito Bank & Trust raised its position in Danaher Corporation (NYSE:DHR – Free Report) by 409.1% during the third quarter, Holdings Channel reports. The firm owned 13,246 shares of the conglomerate’s stock after purchasing an additional 10,644 shares during the period. Montecito Bank & Trust’s holdings in Danaher were worth $2,935,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Danaher during the fourth quarter worth $27,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Danaher by 71.6% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate’s stock valued at $29,000 after buying an additional 53 shares during the period. N.E.W. Advisory Services LLC acquired a new position in Danaher in the second quarter valued at $25,000. Main Street Group LTD bought a new stake in Danaher during the first quarter valued at $25,000. Finally, Field & Main Bank bought a new stake in Danaher during the second quarter valued at $29,000. 79.05% of the stock is owned by institutional investors.
Analysts Set New Price Targets
DHR has been the subject of several research analyst reports. Evercore reissued an “outperform” rating and issued a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $240.00 target price on shares of Danaher in a research report on Wednesday, July 22nd. UBS Group started coverage on Danaher in a research note on Wednesday, September 9th. They set a “buy” rating and a $250.00 target price for the company. Royal Bank Of Canada lifted their target price on Danaher from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, DZ Bank initiated coverage on Danaher in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $210.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $232.50.
Danaher Stock Down 4.5%
Danaher stock traded down $10.08 during midday trading on Thursday, reaching $211.47. The stock had a trading volume of 5,302,533 shares, compared to its average volume of 4,477,097. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a market capitalization of $148.66 billion, a P/E ratio of 37.56, a PEG ratio of 2.82 and a beta of 0.78. The company has a fifty day moving average price of $208.38 and a two-hundred day moving average price of $193.37. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.
Danaher (NYSE:DHR – Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts expect that Danaher Corporation will post 8.53 EPS for the current fiscal year.
Danaher Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Danaher’s dividend payout ratio (DPR) is currently 28.42%.
Danaher Profile
Danaher Corporation (NYSE: DHR) is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.
The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.
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