Lincoln Capital LLC Raises Holdings in Danaher Corporation $DHR

Key Points

• Lincoln Capital increased its Danaher stake by 7.7% in the third quarter, adding 7,008 shares for a total of 98,292 shares valued at approximately $21.9 million. Danaher now represents 3.9% of the firm’s portfolio.
• Institutional ownership remains high at 79.05%, with major investors including BlackRock, State Street and Wellington Management holding or expanding sizable positions.
• Danaher exceeded quarterly earnings and revenue expectations, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $235.23. The company also declared a quarterly dividend of $0.40 per share.

Lincoln Capital LLC lifted its stake in shares of Danaher Corporation (NYSE:DHR - Free Report) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,292 shares of the conglomerate's stock after purchasing an additional 7,008 shares during the quarter. Danaher comprises 3.9% of Lincoln Capital LLC's portfolio, making the stock its 6th largest position. Lincoln Capital LLC's holdings in Danaher were worth $21,909,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Danaher during the second quarter valued at $10,492,520,000. State Street Corp boosted its stake in Danaher by 1.7% during the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock valued at $6,345,529,000 after purchasing an additional 472,608 shares during the period. Wellington Management Group LLP grew its position in Danaher by 10.4% in the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock worth $3,108,031,000 after purchasing an additional 1,542,310 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Danaher in the second quarter valued at approximately $1,456,317,000. Finally, Generation Investment Management LLP bought a new stake in shares of Danaher during the second quarter valued at approximately $1,287,949,000. 79.05% of the stock is owned by institutional investors and hedge funds.

Danaher Price Performance

NYSE DHR traded up $2.69 on Friday, reaching $220.15. 3,934,329 shares of the stock traded hands, compared to its average volume of 4,457,726. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a market cap of $154.76 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 2.72 and a beta of 0.76. The firm's fifty day simple moving average is $211.38 and its 200 day simple moving average is $194.62. The company has a quick ratio of 1.25, a current ratio of 1.65 and a debt-to-equity ratio of 0.48.

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

Danaher Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DHR. Guggenheim increased their price objective on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $240.00 target price on shares of Danaher in a research note on Wednesday, July 22nd. Stifel Nicolaus decreased their price target on Danaher from $260.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Piper Sandler began coverage on Danaher in a report on Thursday, June 11th. They set a "neutral" rating and a $200.00 price target on the stock. Finally, TD Cowen cut their price objective on shares of Danaher from $240.00 to $236.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Two equities research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $235.23.

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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