Danaher Co. (NYSE:DHR) Position Lifted by Canton Hathaway LLC

Canton Hathaway LLC increased its holdings in shares of Danaher Co. (NYSE:DHR) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,612 shares of the conglomerate’s stock after buying an additional 170 shares during the period. Danaher makes up approximately 1.1% of Canton Hathaway LLC’s portfolio, making the stock its 13th biggest position. Canton Hathaway LLC’s holdings in Danaher were worth $3,840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of DHR. Symmetry Investments LP acquired a new stake in shares of Danaher in the 2nd quarter worth about $4,428,000. Islet Management LP acquired a new position in shares of Danaher during the second quarter worth approximately $13,418,000. Public Employees Retirement System of Ohio grew its holdings in Danaher by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 415,854 shares of the conglomerate’s stock worth $111,599,000 after buying an additional 1,112 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its position in Danaher by 3.3% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 56,026 shares of the conglomerate’s stock valued at $15,035,000 after acquiring an additional 1,806 shares during the period. Finally, Advisor Group Holdings Inc. raised its stake in Danaher by 3.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 138,714 shares of the conglomerate’s stock valued at $37,266,000 after acquiring an additional 4,937 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Danaher stock traded up $1.96 during midday trading on Thursday, hitting $315.48. The company’s stock had a trading volume of 1,557,837 shares, compared to its average volume of 2,413,020. The firm has a market capitalization of $225.43 billion, a P/E ratio of 39.98, a PEG ratio of 2.35 and a beta of 0.70. The stock has a 50-day simple moving average of $308.25 and a 200-day simple moving average of $292.45. The company has a quick ratio of 1.11, a current ratio of 1.48 and a debt-to-equity ratio of 0.59. Danaher Co. has a 1-year low of $211.22 and a 1-year high of $333.96.

Danaher (NYSE:DHR) last released its quarterly earnings data on Wednesday, October 20th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.24. Danaher had a return on equity of 18.32% and a net margin of 20.97%. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, sell-side analysts predict that Danaher Co. will post 9.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 29th. Stockholders of record on Thursday, September 30th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, September 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.27%. Danaher’s payout ratio is presently 10.65%.

In other Danaher news, Chairman Mitchell P. Rales sold 343,861 shares of Danaher stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $312.94, for a total transaction of $107,607,861.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell P. Rales sold 343,862 shares of the business’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $305.85, for a total value of $105,170,192.70. The disclosure for this sale can be found here. Insiders have sold 694,908 shares of company stock worth $214,929,432 over the last 90 days. Corporate insiders own 11.40% of the company’s stock.

A number of brokerages recently weighed in on DHR. Bank of America lifted their price objective on shares of Danaher from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Friday, September 10th. Citigroup increased their price objective on shares of Danaher from $345.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 22nd. Barclays boosted their target price on Danaher from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, October 22nd. Zacks Investment Research cut Danaher from a “buy” rating to a “hold” rating and set a $322.00 price target on the stock. in a research report on Wednesday, October 27th. Finally, Royal Bank of Canada lifted their price target on Danaher from $332.00 to $334.00 and gave the company a “sector perform” rating in a research report on Friday, October 22nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $334.36.

Danaher Company Profile

Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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