Danaher Corporation $DHR Shares Bought by Rockland Trust Co.

Key Points

• Rockland Trust Co. increased its Danaher stake by 1,318% in the third quarter, bringing its holdings to 94,026 shares valued at approximately $20.8 million. Institutional investors collectively own 79.05% of Danaher’s outstanding stock.
• Danaher shares rose 2.1% to $218.59, while the company’s latest quarterly results exceeded expectations with adjusted earnings of $1.94 per share and revenue of $6.26 billion, up 5.5% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $234.09. Danaher also announced a quarterly dividend of $0.40 per share, representing a 0.7% yield.

Rockland Trust Co. raised its position in Danaher Corporation (NYSE:DHR - Free Report) by 1,318.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 94,026 shares of the conglomerate's stock after buying an additional 87,395 shares during the quarter. Rockland Trust Co.'s holdings in Danaher were worth $20,831,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in Danaher during the fourth quarter worth about $27,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Danaher by 71.6% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 127 shares of the conglomerate's stock valued at $29,000 after buying an additional 53 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Danaher in the 2nd quarter valued at approximately $25,000. Main Street Group LTD purchased a new stake in shares of Danaher in the first quarter valued at approximately $25,000. Finally, Field & Main Bank acquired a new position in Danaher during the second quarter worth $29,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Danaher Trading Up 2.1%

Shares of DHR traded up $4.54 on Monday, hitting $218.59. 723,152 shares of the stock traded hands, compared to its average volume of 4,454,141. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $153.67 billion, a P/E ratio of 38.80, a P/E/G ratio of 2.67 and a beta of 0.76. The stock's 50 day moving average is $209.20 and its two-hundred day moving average is $193.70. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.12 billion. Danaher had a net margin of 15.95% and a return on equity of 11.04%. Danaher's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. As a group, sell-side analysts predict that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.7%. Danaher's dividend payout ratio is 28.42%.

Wall Street Analyst Weigh In

DHR has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on Danaher from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 21st. Evercore reissued an "outperform" rating and issued a $230.00 price objective on shares of Danaher in a research note on Monday, July 6th. Stifel Nicolaus cut their target price on shares of Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and an average target price of $234.09.

About Danaher

Danaher Corporation NYSE: DHR is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.

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