Danaher Corporation $DHR Stake Boosted by Goelzer Investment Management Inc.

Key Points

• Goelzer Investment Management increased its Danaher stake by 4,817.7% in the third quarter, owning 56,308 shares valued at approximately $12.5 million. Other institutional investors also initiated or expanded positions, with institutions collectively holding 79.05% of Danaher’s stock.
• Danaher reported quarterly earnings of $1.94 per share, exceeding estimates of $1.85, while revenue rose 5.5% year over year to $6.26 billion. Shares opened at $228.87, near the company’s 12-month high of $242.80.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $235.41, while recent targets range as high as $255. Danaher also declared a quarterly dividend of $0.40 per share, representing a 0.7% annualized yield.

Goelzer Investment Management Inc. lifted its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 4,817.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,308 shares of the conglomerate's stock after purchasing an additional 55,163 shares during the quarter. Goelzer Investment Management Inc.'s holdings in Danaher were worth $12,475,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DHR. Baugh & Associates LLC bought a new stake in Danaher during the 3rd quarter valued at $16,100,000. Annex Advisory Services LLC bought a new position in Danaher in the 3rd quarter worth $966,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Danaher in the third quarter worth about $997,000. Granite Islands Private Wealth LLC purchased a new stake in Danaher in the third quarter worth about $3,791,000. Finally, Patriot Investment Management Group Inc. purchased a new position in shares of Danaher during the 3rd quarter worth approximately $944,000. Institutional investors own 79.05% of the company's stock.

Danaher Price Performance

Shares of NYSE:DHR opened at $228.87 on Friday. The company has a market cap of $160.89 billion, a PE ratio of 40.65, a price-to-earnings-growth ratio of 2.91 and a beta of 0.76. The company's 50 day moving average is $214.04 and its 200 day moving average is $195.97. Danaher Corporation has a twelve month low of $160.93 and a twelve month high of $242.80. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

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

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Danaher's dividend payout ratio (DPR) is currently 28.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore restated an "outperform" rating and set a $230.00 price objective on shares of Danaher in a research report on Monday, July 6th. Wells Fargo & Company reduced their target price on shares of Danaher from $212.00 to $195.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Barclays upped their price target on Danaher from $230.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Stifel Nicolaus decreased their price objective on shares of Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Finally, TD Cowen boosted their price objective on Danaher from $236.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $235.41.

Danaher Profile

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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