Danaher Corporation $DHR Stock: Hengehold Capital Management LLC Increases Stake

Key Points

• Hengehold Capital Management increased its Danaher stake by 3,318.5% in the third quarter, owning 51,756 shares worth approximately $11.5 million. Institutional investors collectively hold 79.05% of Danaher’s outstanding 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.
• Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $235.41, compared with the cited share price of $228.87. The company also declared a quarterly dividend of $0.40 per share.

Hengehold Capital Management LLC lifted its position in shares of Danaher Corporation (NYSE:DHR - Free Report) by 3,318.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,756 shares of the conglomerate's stock after purchasing an additional 50,242 shares during the quarter. Danaher makes up about 0.9% of Hengehold Capital Management LLC's investment portfolio, making the stock its 27th largest position. Hengehold Capital Management LLC's holdings in Danaher were worth $11,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DHR. BlackRock Inc. acquired a new position in shares of Danaher in the second quarter valued at $10,492,520,000. Jupiter Topco LLC acquired a new stake in Danaher during the second quarter worth $1,456,317,000. Generation Investment Management LLP acquired a new stake in Danaher during the second quarter worth $1,287,949,000. Bank of America Corp DE bought a new stake in Danaher in the 2nd quarter valued at $993,846,000. Finally, Legal & General Group Plc bought a new stake in Danaher in the 2nd quarter valued at $801,056,000. 79.05% of the stock is currently owned by institutional investors.

Danaher Price Performance

Shares of Danaher stock traded down $2.63 during midday trading on Friday, hitting $228.87. 3,516,366 shares of the company were exchanged, compared to its average volume of 4,667,069. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.65 and a quick ratio of 1.25. The firm has a market cap of $160.89 billion, a P/E ratio of 40.65, a PEG ratio of 2.91 and a beta of 0.76. Danaher Corporation has a 52 week low of $160.93 and a 52 week high of $242.80. The firm has a 50 day simple moving average of $214.04 and a 200-day simple moving average of $195.97.

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

Danaher Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DHR shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 price objective on shares of Danaher in a research note on Wednesday, July 22nd. UBS Group initiated coverage on shares of Danaher in a research report on Wednesday, September 9th. They set a "buy" rating and a $250.00 target price on the stock. Barclays lifted their target price on shares of Danaher from $230.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Danaher from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, September 16th. Finally, Wall Street Zen raised shares of Danaher from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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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