Danaher Co. (NYSE:DHR) Holdings Cut by Progressive Investment Management Corp

Progressive Investment Management Corp cut its position in Danaher Co. (NYSE:DHR) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,089 shares of the conglomerate’s stock after selling 378 shares during the quarter. Danaher makes up approximately 3.4% of Progressive Investment Management Corp’s investment portfolio, making the stock its 10th largest holding. Progressive Investment Management Corp’s holdings in Danaher were worth $13,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Fort Pitt Capital Group LLC grew its stake in Danaher by 3.2% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock valued at $66,194,000 after purchasing an additional 7,421 shares during the last quarter. Good Life Advisors LLC purchased a new stake in Danaher in the 3rd quarter worth approximately $217,000. Oak Thistle LLC purchased a new stake in Danaher during the second quarter worth $363,000. Harvest Portfolios Group Inc. raised its holdings in Danaher by 1.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock worth $56,233,000 after purchasing an additional 2,465 shares during the period. Finally, Diversified Trust Co raised its position in Danaher by 75.4% during the second quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock worth $1,090,000 after acquiring an additional 1,874 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DHR shares. Bank of America raised their price objective on shares of Danaher from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Robert W. Baird lowered their price objective on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. UBS Group lowered their target price on Danaher from $309.00 to $305.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Barclays cut their price target on shares of Danaher from $285.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company initiated coverage on shares of Danaher in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $280.00 target price on the stock. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.16.

Insiders Place Their Bets

In other news, SVP Georgeann Couchara sold 952 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $268.37, for a total transaction of $255,488.24. Following the completion of the sale, the senior vice president now directly owns 4,212 shares in the company, valued at $1,130,374.44. This represents a 18.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 10.90% of the stock is owned by corporate insiders.

Danaher Trading Up 0.3 %

Shares of Danaher stock opened at $230.84 on Wednesday. The business has a 50 day moving average price of $260.45 and a 200 day moving average price of $260.32. The company has a market capitalization of $166.73 billion, a P/E ratio of 44.04, a P/E/G ratio of 4.24 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. Danaher Co. has a 1 year low of $207.63 and a 1 year high of $281.70.

Danaher (NYSE:DHR) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.14. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.02 earnings per share. Sell-side analysts anticipate that Danaher Co. will post 7.51 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.08 annualized dividend and a yield of 0.47%. Danaher’s dividend payout ratio (DPR) is presently 20.61%.

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.