Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of Danaher Co. (NYSE:DHR) by 269.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,275 shares of the conglomerate’s stock after acquiring an additional 11,143 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Danaher were worth $1,660,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of DHR. Parsons Capital Management Inc. RI grew its holdings in Danaher by 1.5% in the 1st quarter. Parsons Capital Management Inc. RI now owns 58,011 shares of the conglomerate’s stock valued at $5,680,000 after buying an additional 840 shares in the last quarter. Ancora Advisors LLC grew its holdings in Danaher by 38.6% in the 1st quarter. Ancora Advisors LLC now owns 8,513 shares of the conglomerate’s stock valued at $834,000 after buying an additional 2,373 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Danaher by 5.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 55,974 shares of the conglomerate’s stock valued at $5,476,000 after buying an additional 2,659 shares in the last quarter. Mariner LLC grew its holdings in Danaher by 8.5% in the 1st quarter. Mariner LLC now owns 8,417 shares of the conglomerate’s stock valued at $824,000 after buying an additional 662 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in Danaher in the 1st quarter valued at $362,000. 76.90% of the stock is currently owned by institutional investors and hedge funds.
DHR opened at $103.38 on Friday. The firm has a market cap of $76.04 billion, a PE ratio of 25.65, a P/E/G ratio of 2.08 and a beta of 1.01. Danaher Co. has a 52-week low of $83.81 and a 52-week high of $110.13. The company has a current ratio of 1.50, a quick ratio of 1.07 and a debt-to-equity ratio of 0.41.
Danaher (NYSE:DHR) last released its earnings results on Thursday, July 19th. The conglomerate reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.06. The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.91 billion. Danaher had a return on equity of 11.55% and a net margin of 13.84%. Danaher’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. Equities analysts forecast that Danaher Co. will post 4.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, September 27th. Danaher’s dividend payout ratio (DPR) is currently 15.88%.
In related 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 transaction of $10,373,544.18. Following the completion of the sale, the executive vice president now directly owns 167,080 shares in the company, valued at approximately $16,813,260.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel L. Comas sold 77,407 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $103.93, for a total value of $8,044,909.51. Following the sale, the chief financial officer now owns 135,218 shares of the company’s stock, valued at $14,053,206.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,961 shares of company stock worth $30,619,691. 11.90% of the stock is currently owned by insiders.
A number of research analysts have commented on DHR shares. Zacks Investment Research lowered Danaher from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Morgan Stanley upped their price objective on Danaher from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, July 13th. Bank of America set a $113.00 price objective on Danaher and gave the company a “buy” rating in a report on Thursday, July 19th. ValuEngine raised Danaher from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Finally, Royal Bank of Canada upped their price objective on Danaher to $107.00 and gave the company a “positive” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Danaher currently has an average rating of “Buy” and an average target price of $111.57.
Danaher Company Profile
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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