Danaher Corporation $DHR Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in Danaher Corporation (NYSE:DHR) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 304,825 shares of the conglomerate’s stock after purchasing an additional 29,686 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Danaher were worth $60,215,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new position in Danaher during the 1st quarter valued at about $833,941,000. Generation Investment Management LLP lifted its stake in shares of Danaher by 56.2% in the 2nd quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock worth $980,914,000 after acquiring an additional 1,787,522 shares during the period. Invesco Ltd. boosted its holdings in shares of Danaher by 44.5% in the first quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate’s stock valued at $965,259,000 after acquiring an additional 1,450,703 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Danaher by 290.6% during the first quarter. Baird Financial Group Inc. now owns 1,441,706 shares of the conglomerate’s stock valued at $295,550,000 after acquiring an additional 1,072,617 shares during the period. Finally, Parnassus Investments LLC increased its stake in shares of Danaher by 23.3% during the first quarter. Parnassus Investments LLC now owns 3,828,024 shares of the conglomerate’s stock valued at $784,745,000 after acquiring an additional 722,636 shares during the period. 79.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DHR. JPMorgan Chase & Co. upped their target price on Danaher from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Guggenheim restated a “buy” rating and issued a $250.00 price objective on shares of Danaher in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Danaher from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. TD Cowen boosted their price target on shares of Danaher from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Barclays upped their price target on shares of Danaher from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Danaher has an average rating of “Moderate Buy” and an average price target of $243.39.

Danaher Trading Up 1.0%

Shares of NYSE DHR opened at $221.50 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.33. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $258.23. The company has a market cap of $156.46 billion, a price-to-earnings ratio of 45.67, a P/E/G ratio of 3.28 and a beta of 0.81. The business has a fifty day simple moving average of $205.21 and a 200-day simple moving average of $200.91.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Monday, October 20th. The conglomerate reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. Danaher had a return on equity of 10.92% and a net margin of 14.44%.The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6 billion. During the same quarter in the previous year, the company earned $1.71 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, September 26th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, September 26th. Danaher’s dividend payout ratio is 26.39%.

Insider Buying and Selling

In related news, Director Teri List sold 2,778 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the completion of the transaction, the director owned 20,751 shares of the company’s stock, valued at approximately $4,379,706.06. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brian W. Ellis sold 21,776 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $219.23, for a total transaction of $4,773,952.48. Following the sale, the senior vice president directly owned 14,553 shares in the company, valued at approximately $3,190,454.19. This trade represents a 59.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,728 shares of company stock valued at $6,448,990. Company insiders own 11.20% of the company’s stock.

About Danaher

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.