Synovus Financial Corp lifted its position in shares of Danaher Co. (NYSE:DHR) by 21.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 122,911 shares of the conglomerate’s stock after acquiring an additional 21,495 shares during the period. Synovus Financial Corp’s holdings in Danaher were worth $13,353,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in DHR. FMR LLC grew its position in shares of Danaher by 10.3% during the second quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock worth $2,073,369,000 after acquiring an additional 1,963,116 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Danaher by 77.5% during the second quarter. Renaissance Technologies LLC now owns 1,718,200 shares of the conglomerate’s stock worth $169,552,000 after acquiring an additional 750,000 shares during the last quarter. Bank of Montreal Can grew its position in shares of Danaher by 113.3% during the third quarter. Bank of Montreal Can now owns 1,069,328 shares of the conglomerate’s stock worth $116,195,000 after acquiring an additional 567,990 shares during the last quarter. CIBC World Markets Inc. grew its position in shares of Danaher by 2,228.2% during the second quarter. CIBC World Markets Inc. now owns 525,287 shares of the conglomerate’s stock worth $51,835,000 after acquiring an additional 502,725 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Danaher by 160.4% during the second quarter. PNC Financial Services Group Inc. now owns 776,159 shares of the conglomerate’s stock worth $76,592,000 after acquiring an additional 478,087 shares during the last quarter. Institutional investors and hedge funds own 76.80% of the company’s stock.
In other news, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $95.77, for a total transaction of $1,013,055.06. Following the completion of the transaction, the director now owns 105,491 shares in the company, valued at approximately $10,102,873.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William K. Daniel sold 103,086 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $100.63, for a total transaction of $10,373,544.18. Following the transaction, the executive vice president now owns 167,080 shares of the company’s stock, valued at approximately $16,813,260.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,448 shares of company stock valued at $14,306,623. Insiders own 11.90% of the company’s stock.
Shares of DHR opened at $101.25 on Friday. The stock has a market capitalization of $69.67 billion, a P/E ratio of 25.12, a P/E/G ratio of 1.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.53 and a quick ratio of 1.08. Danaher Co. has a 52-week low of $91.65 and a 52-week high of $110.13.
Danaher (NYSE:DHR) last announced its earnings results on Thursday, October 18th. The conglomerate reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. Danaher had a net margin of 14.07% and a return on equity of 11.59%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. Danaher’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Danaher Co. will post 4.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, September 28th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.63%. Danaher’s dividend payout ratio (DPR) is 15.88%.
Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Danaher from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Robert W. Baird lowered their price target on shares of Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Zacks Investment Research lowered shares of Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Morgan Stanley increased their target price on shares of Danaher from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada increased their target price on shares of Danaher to $107.00 and gave the company a “positive” rating in a research report on Thursday, July 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. Danaher has a consensus rating of “Buy” and an average target price of $112.14.
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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