Danaher Corporation $DHR Position Increased by Pittenger & Anderson Inc.

Key Points

• Pittenger & Anderson Inc. increased its position in Danaher Corporation by 7.4%, owning 38,173 shares worth approximately $7.54 million as of the latest SEC filing.
• Danaher announced a quarterly dividend of $0.32 per share, set to be paid on October 31st, representing a 0.6% yield.
• Analysts' price targets for Danaher vary, with Robert W. Baird setting a new target of $236.00, while other firms like Bank of America have set targets as low as $220.00.

Pittenger & Anderson Inc. increased its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,173 shares of the conglomerate's stock after acquiring an additional 2,645 shares during the period. Pittenger & Anderson Inc.'s holdings in Danaher were worth $7,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DHR. Vanguard Group Inc. raised its holdings in Danaher by 0.4% during the first quarter. Vanguard Group Inc. now owns 59,981,088 shares of the conglomerate's stock valued at $12,296,123,000 after buying an additional 230,966 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Danaher by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,592,211 shares of the conglomerate's stock valued at $4,016,404,000 after acquiring an additional 612,154 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Danaher by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 8,783,485 shares of the conglomerate's stock worth $1,800,614,000 after purchasing an additional 194,466 shares during the last quarter. Invesco Ltd. boosted its position in Danaher by 44.5% during the first quarter. Invesco Ltd. now owns 4,708,578 shares of the conglomerate's stock worth $965,259,000 after purchasing an additional 1,450,703 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Danaher by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,230,087 shares of the conglomerate's stock worth $867,168,000 after purchasing an additional 163,332 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Danaher

In other news, Director Teri List sold 2,778 shares of Danaher stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $211.06, for a total transaction of $586,324.68. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DHR. Robert W. Baird boosted their price objective on shares of Danaher from $229.00 to $236.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 15th. Bank of America cut their target price on shares of Danaher from $230.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, September 22nd. Redburn Partners set a $220.00 price target on shares of Danaher in a report on Wednesday, October 8th. Barclays reiterated an "overweight" rating and issued a $225.00 price objective (up from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Finally, UBS Group decreased their target price on Danaher from $240.00 to $225.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $245.00.

Danaher Trading Down 0.5%

Shares of Danaher stock opened at $208.06 on Tuesday. Danaher Corporation has a 1 year low of $171.00 and a 1 year high of $274.21. The company has a market cap of $148.98 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 2.98 and a beta of 0.77. The company's fifty day simple moving average is $201.76 and its 200-day simple moving average is $197.42. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period last year, the business earned $1.72 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, September 26th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's dividend payout ratio (DPR) is presently 27.23%.

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.

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