First Citizens Bank & Trust Co. Raises Stock Position in Danaher Corporation $DHR

Key Points

• First Citizens Bank & Trust Co. has increased its stake in Danaher Corporation by 20.0%, bringing its total holdings to 45,607 shares valued at approximately $9,009,000.
• Danaher Corporation reported $1.89 earnings per share for the latest quarter, exceeding estimates, with revenue reaching $6.05 billion, a 4.4% increase year-over-year.
• The company announced a quarterly dividend of $0.32, representing an annualized yield of 0.6%, with the dividend payment scheduled for October 31st.

First Citizens Bank & Trust Co. increased its holdings in Danaher Corporation (NYSE:DHR - Free Report) by 20.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,607 shares of the conglomerate's stock after buying an additional 7,596 shares during the period. First Citizens Bank & Trust Co.'s holdings in Danaher were worth $9,009,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DHR. Bleakley Financial Group LLC boosted its position in shares of Danaher by 36.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 27,938 shares of the conglomerate's stock valued at $5,519,000 after acquiring an additional 7,461 shares during the last quarter. Capital Investment Services of America Inc. increased its holdings in shares of Danaher by 0.9% in the 2nd quarter. Capital Investment Services of America Inc. now owns 134,533 shares of the conglomerate's stock worth $26,576,000 after buying an additional 1,242 shares during the last quarter. OLD Point Trust & Financial Services N A raised its position in shares of Danaher by 24.9% during the 2nd quarter. OLD Point Trust & Financial Services N A now owns 1,406 shares of the conglomerate's stock valued at $278,000 after buying an additional 280 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Danaher by 29.8% during the 2nd quarter. Forum Financial Management LP now owns 10,200 shares of the conglomerate's stock worth $2,015,000 after acquiring an additional 2,340 shares during the last quarter. Finally, Ethic Inc. increased its stake in Danaher by 7.5% in the second quarter. Ethic Inc. now owns 65,613 shares of the conglomerate's stock valued at $13,044,000 after acquiring an additional 4,552 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Danaher Trading Down 1.5%

Shares of NYSE:DHR opened at $217.39 on Thursday. The company has a market cap of $155.66 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 3.20 and a beta of 0.77. Danaher Corporation has a 12-month low of $171.00 and a 12-month high of $260.88. 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 has a 50 day moving average of $202.24 and a 200 day moving average of $197.73.

Danaher (NYSE:DHR - Get Free Report) last posted its earnings results on Tuesday, October 21st. The conglomerate reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6 billion. Danaher had a return on equity of 10.93% and a net margin of 14.44%.During the same period in the previous year, the business earned $1.71 EPS. The business's quarterly revenue was up 4.4% on a year-over-year basis. Danaher has set its FY 2025 guidance at 7.700-7.800 EPS. As a group, equities research analysts expect that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on DHR. UBS Group cut 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. Rothschild & Co Redburn restated a "neutral" rating and set a $220.00 price objective (down from $245.00) on shares of Danaher in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Danaher from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. TD Cowen raised their price target on shares of Danaher from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Danaher in a research note on Wednesday, October 8th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $243.39.

Insider Transactions at Danaher

In related news, Director Teri List sold 2,778 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $211.06, for a total value of $586,324.68. Following the completion of the sale, the director owned 20,751 shares in the company, valued at $4,379,706.06. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding DHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Danaher Corporation (NYSE:DHR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.