Danaher Corporation $DHR Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its stake in shares of Danaher Corporation (NYSE:DHR) by 4.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 467,491 shares of the conglomerate’s stock after selling 23,109 shares during the quarter. Fifth Third Bancorp’s holdings in Danaher were worth $103,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Three Bridge Wealth Advisors LLC bought a new position in Danaher in the 3rd quarter worth $55,000. Schwallier Wealth Management LLC acquired a new position in Danaher during the 3rd quarter worth $229,000. Banyan Capital Management Inc. bought a new stake in Danaher during the third quarter valued at about $3,777,000. Ritholtz Wealth Management boosted its holdings in Danaher by 29.3% during the third quarter. Ritholtz Wealth Management now owns 12,634 shares of the conglomerate’s stock valued at $2,799,000 after acquiring an additional 2,860 shares during the period. Finally, Joel Isaacson & Co. LLC grew its position in shares of Danaher by 3.6% in the third quarter. Joel Isaacson & Co. LLC now owns 1,923 shares of the conglomerate’s stock valued at $426,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Insider Activity

In related news, CAO Christopher Bouda sold 7,598 shares of Danaher stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total transaction of $1,782,186.88. Following the sale, the chief accounting officer directly owned 9,107 shares of the company’s stock, valued at $2,136,137.92. This trade represents a 45.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gregory Milosevich sold 2,100 shares of Danaher stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $230.62, for a total value of $484,302.00. Following the sale, the executive vice president directly owned 22,367 shares in the company, valued at approximately $5,158,277.54. This trade represents a 8.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DHR has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Danaher from $212.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada boosted their price objective on Danaher from $215.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, October 5th. Morgan Stanley increased their target price on Danaher from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $275.00 target price on shares of Danaher in a report on Thursday, October 22nd. Finally, Guggenheim lifted their price target on Danaher from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $242.91.

Danaher Price Performance

NYSE:DHR opened at $235.47 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.63 and a quick ratio of 1.29. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a fifty day moving average price of $221.67 and a 200 day moving average price of $201.56. The stock has a market cap of $165.66 billion, a P/E ratio of 38.54, a PEG ratio of 2.96 and a beta of 0.76.

Danaher (NYSE:DHR) last posted its quarterly earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.19. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period last year, the business posted $1.89 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Danaher Corporation will post 8.59 earnings per share for the current year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 30th. Danaher’s dividend payout ratio (DPR) is presently 26.19%.

Danaher Company Profile

Danaher is a global science and technology company that develops and supplies products and services for biotechnology, life sciences, and diagnostics markets. Its offerings include instruments, reagents, consumables, software, and services used in research, drug development and manufacturing, and clinical testing. The company’s businesses include well-known brands such as Cytiva and Pall in bioprocessing and filtration, Beckman Coulter in laboratory and clinical diagnostics, Cepheid in molecular diagnostics, and Leica Microsystems in microscopy.