PNC Financial Services Group Inc. Sells 22,275 Shares of Danaher Corporation (NYSE:DHR)

Key Points

• PNC Financial Services Group Inc. has reduced its stake in Danaher Corporation by 7.5%, currently holding 275,139 shares worth approximately $56.4 million.
• Danaher reported earnings of $1.80 EPS for the last quarter, beating analyst estimates of $1.64, with a revenue of $5.94 billion.
• The company announced a quarterly dividend of $0.32 per share, reflecting an annualized dividend of $1.28 and a yield of 0.6%.

PNC Financial Services Group Inc. reduced its stake in Danaher Corporation (NYSE:DHR - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 275,139 shares of the conglomerate's stock after selling 22,275 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Danaher were worth $56,404,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DHR. Bank Pictet & Cie Europe AG lifted its position in shares of Danaher by 22.8% during the 4th 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. ExodusPoint Capital Management LP purchased a new stake in shares of Danaher in the fourth quarter valued at about $5,193,000. Oarsman Capital Inc. boosted its holdings in Danaher by 13.1% during the fourth quarter. Oarsman Capital Inc. now owns 1,398 shares of the conglomerate's stock worth $321,000 after buying an additional 162 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Danaher by 21.6% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,217 shares of the conglomerate's stock worth $1,198,000 after buying an additional 928 shares in the last quarter. Finally, Perennial Investment Advisors LLC lifted its holdings in shares of Danaher by 2.2% in the fourth quarter. Perennial Investment Advisors LLC now owns 2,343 shares of the conglomerate's stock valued at $538,000 after purchasing an additional 51 shares in the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Danaher from $210.00 to $205.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Scotiabank upgraded shares of Danaher from a "sector perform" rating to a "sector outperform" rating and set a $275.00 target price for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. reduced their price objective on shares of Danaher from $280.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Wolfe Research dropped their price objective on shares of Danaher from $275.00 to $220.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Finally, Bank of America reduced their price objective on shares of Danaher from $265.00 to $230.00 in a research report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $247.61.

Insiders Place Their Bets

In other Danaher news, Chairman Steven M. Rales sold 1,250,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $196.74, for a total transaction of $245,925,000.00. Following the sale, the chairman directly owned 3,105,808 shares of the company's stock, valued at $611,036,665.92. The trade was a 28.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.20% of the stock is owned by insiders.

Danaher Trading Up 0.9%

NYSE DHR traded up $1.69 on Tuesday, hitting $199.15. The company's stock had a trading volume of 4,001,120 shares, compared to its average volume of 4,702,217. Danaher Corporation has a 52-week low of $171.00 and a 52-week high of $279.90. 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 firm has a market cap of $142.60 billion, a P/E ratio of 42.37, a PEG ratio of 2.74 and a beta of 0.73. The company's 50-day simple moving average is $197.75 and its 200 day simple moving average is $201.87.

Danaher (NYSE:DHR - Get Free Report) last released its earnings results on Tuesday, July 22nd. The conglomerate reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.16. Danaher had a return on equity of 10.70% and a net margin of 14.21%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the business earned $1.72 earnings per share. Danaher's quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts predict that Danaher Corporation will post 7.63 EPS for the current fiscal year.

About Danaher

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.