Fifth Third Bancorp Decreases Position in Danaher Corporation $DHR

Key Points

• Fifth Third Bancorp has reduced its stake in Danaher Corporation by 1.2%, holding approximately 494,141 shares worth $97.6 million after selling 6,115 shares in the second quarter.
• Danaher recently announced a quarterly dividend of $0.32 per share, with an annualized yield of 0.7%, to be paid on October 31st to shareholders of record as of September 26th.
• Analysts have a consensus rating of "Moderate Buy" for Danaher, with a target price averaging $245.91, as several firms have updated their price objectives based on recent performance.

Fifth Third Bancorp decreased its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 494,141 shares of the conglomerate's stock after selling 6,115 shares during the quarter. Fifth Third Bancorp owned approximately 0.07% of Danaher worth $97,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DHR. Bank Pictet & Cie Europe AG lifted its stake in Danaher by 22.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,731 shares of the conglomerate's stock worth $44,241,000 after purchasing an additional 35,730 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in Danaher during the fourth quarter worth approximately $3,763,000. Ameriflex Group Inc. purchased a new stake in Danaher during the fourth quarter worth approximately $38,000. Heck Capital Advisors LLC purchased a new stake in Danaher during the fourth quarter worth approximately $27,000. Finally, Park Square Financial Group LLC purchased a new stake in Danaher in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 79.05% of the company's stock.

Insiders Place Their Bets

In related news, Director Teri List sold 2,778 shares of the company's stock in a transaction 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 transaction, the director owned 20,751 shares of the company's stock, valued at $4,379,706.06. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DHR has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Guggenheim reiterated a "buy" rating and issued a $250.00 price objective on shares of Danaher in a research note on Wednesday, July 23rd. Royal Bank Of Canada set a $241.00 price objective on Danaher in a research note on Tuesday, September 2nd. Wall Street Zen upgraded Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Barclays reiterated an "overweight" rating and issued a $225.00 price objective (up previously from $215.00) on shares of Danaher in a research note on Tuesday, June 24th. Seventeen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $245.91.

Danaher Trading Down 0.6%

NYSE:DHR opened at $189.24 on Wednesday. The firm has a market cap of $135.50 billion, a P/E ratio of 40.26, a PEG ratio of 2.66 and a beta of 0.75. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. The stock's 50 day simple moving average is $199.95 and its 200-day simple moving average is $197.97. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $279.90.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.16. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.83 billion. Danaher had a return on equity of 10.70% and a net margin of 14.21%.The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. Equities analysts anticipate that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, September 26th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, September 26th. Danaher's dividend payout ratio is currently 27.23%.

Danaher Profile

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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