Polaris Greystone Financial Group LLC boosted its stake in shares of Danaher Co. (NYSE:DHR) by 2.1% in the third quarter, HoldingsChannel.com reports. The firm owned 276,651 shares of the conglomerate’s stock after purchasing an additional 5,745 shares during the quarter. Danaher makes up approximately 2.1% of Polaris Greystone Financial Group LLC’s holdings, making the stock its 8th largest holding. Polaris Greystone Financial Group LLC’s holdings in Danaher were worth $30,061,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Danaher by 10.3% during the 2nd quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock valued at $2,073,369,000 after purchasing an additional 1,963,116 shares during the period. Putnam Investments LLC boosted its position in Danaher by 0.8% during the 2nd quarter. Putnam Investments LLC now owns 6,385,003 shares of the conglomerate’s stock valued at $630,072,000 after purchasing an additional 51,596 shares during the period. Findlay Park Partners LLP boosted its position in Danaher by 4.8% during the 2nd quarter. Findlay Park Partners LLP now owns 3,825,000 shares of the conglomerate’s stock valued at $377,451,000 after purchasing an additional 175,000 shares during the period. Schroder Investment Management Group boosted its position in Danaher by 0.3% during the 2nd quarter. Schroder Investment Management Group now owns 2,765,853 shares of the conglomerate’s stock valued at $272,768,000 after purchasing an additional 9,606 shares during the period. Finally, Fred Alger Management Inc. boosted its position in Danaher by 7.1% during the 2nd quarter. Fred Alger Management Inc. now owns 2,749,640 shares of the conglomerate’s stock valued at $271,334,000 after purchasing an additional 181,154 shares during the period. Institutional investors and hedge funds own 77.00% of the company’s stock.
DHR stock traded down $1.15 during trading on Friday, reaching $100.09. 134,332 shares of the company’s stock were exchanged, compared to its average volume of 2,456,721. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.50. Danaher Co. has a 1-year low of $89.00 and a 1-year high of $110.13. The firm has a market capitalization of $73.45 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01.
Danaher (NYSE:DHR) last announced its quarterly earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.03. Danaher had a return on equity of 11.55% and a net margin of 13.84%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Danaher Co. will post 4.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, September 28th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.64 dividend on an annualized basis and a yield of 0.64%. Danaher’s dividend payout ratio (DPR) is presently 15.88%.
DHR has been the subject of a number of analyst reports. Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Monday, July 23rd. Bank of America set a $113.00 price objective on Danaher and gave the company a “buy” rating in a research report on Thursday, July 19th. ValuEngine upgraded Danaher from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Robert W. Baird reduced their price target on Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Morgan Stanley boosted their price target on Danaher from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 13th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $112.14.
In other news, EVP William K. Daniel sold 103,086 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $100.63, for a total value of $10,373,544.18. Following the completion of the sale, the executive vice president now owns 167,080 shares in the company, valued at $16,813,260.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert S. Lutz sold 14,555 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $103.93, for a total value of $1,512,701.15. Following the completion of the sale, the senior vice president now owns 18,044 shares of the company’s stock, valued at approximately $1,875,312.92. The disclosure for this sale can be found here. Insiders have sold a total of 299,961 shares of company stock valued at $30,619,691 in the last quarter. 11.90% of the stock is currently owned by insiders.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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