Fort Pitt Capital Group LLC Raises Position in Danaher Co. (NYSE:DHR)

Fort Pitt Capital Group LLC raised its holdings in shares of Danaher Co. (NYSE:DHRFree Report) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,497 shares of the conglomerate’s stock after buying an additional 12,544 shares during the period. Fort Pitt Capital Group LLC’s holdings in Danaher were worth $55,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DHR. Acadian Asset Management LLC grew its position in shares of Danaher by 7.6% in the 3rd quarter. Acadian Asset Management LLC now owns 7,915 shares of the conglomerate’s stock worth $1,962,000 after buying an additional 558 shares during the last quarter. Clearbridge Investments LLC increased its position in Danaher by 2.2% during the 3rd quarter. Clearbridge Investments LLC now owns 285,489 shares of the conglomerate’s stock valued at $70,830,000 after purchasing an additional 6,212 shares during the period. LPL Financial LLC raised its holdings in Danaher by 6.6% in the 3rd quarter. LPL Financial LLC now owns 284,672 shares of the conglomerate’s stock worth $70,627,000 after purchasing an additional 17,519 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Danaher by 7.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,835 shares of the conglomerate’s stock worth $8,146,000 after purchasing an additional 2,371 shares during the period. Finally, Asset Dedication LLC boosted its stake in shares of Danaher by 13.4% during the 3rd quarter. Asset Dedication LLC now owns 7,216 shares of the conglomerate’s stock valued at $1,773,000 after purchasing an additional 850 shares in the last quarter. 79.05% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Rainer Blair sold 9,005 shares of Danaher stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $265.00, for a total value of $2,386,325.00. Following the completion of the sale, the chief executive officer now owns 106,990 shares of the company’s stock, valued at $28,352,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Rainer Blair sold 9,005 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $265.00, for a total value of $2,386,325.00. Following the transaction, the chief executive officer now owns 106,990 shares of the company’s stock, valued at $28,352,350. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan G. Spoon sold 708 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $243.58, for a total transaction of $172,454.64. Following the sale, the director now directly owns 116,202 shares of the company’s stock, valued at $28,304,483.16. The disclosure for this sale can be found here. Insiders have sold 148,783 shares of company stock valued at $37,536,717 in the last ninety days. 11.10% of the stock is currently owned by company insiders.

Danaher Stock Up 2.6 %

DHR stock traded up $6.40 during midday trading on Friday, hitting $254.96. The company’s stock had a trading volume of 6,839,526 shares, compared to its average volume of 3,070,856. The company has a market cap of $188.85 billion, a PE ratio of 43.21, a P/E/G ratio of 3.80 and a beta of 0.85. The firm’s 50-day moving average is $254.46 and its 200-day moving average is $245.61. Danaher Co. has a 12 month low of $182.09 and a 12 month high of $269.11. The company has a current ratio of 1.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Danaher (NYSE:DHRGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The conglomerate reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. Danaher had a return on equity of 11.43% and a net margin of 16.78%. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the firm posted $2.36 earnings per share. Danaher’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Danaher Co. will post 7.63 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, June 28th. This represents a $1.08 dividend on an annualized basis and a yield of 0.42%. Danaher’s dividend payout ratio is presently 18.31%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DHR shares. Barclays upped their price target on Danaher from $260.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. TD Cowen increased their price target on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Citigroup boosted their price objective on shares of Danaher from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Bank of America upped their price objective on shares of Danaher from $258.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, HSBC upgraded shares of Danaher from a “hold” rating to a “buy” rating and lifted their target price for the company from $250.00 to $280.00 in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.29.

Check Out Our Latest Research Report on Danaher

Danaher Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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