Danaher Co. (NYSE:DHR) Stake Boosted by Adalta Capital Management LLC

Adalta Capital Management LLC boosted its position in shares of Danaher Co. (NYSE:DHR) by 52.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,467 shares of the conglomerate’s stock after purchasing an additional 2,907 shares during the period. Danaher accounts for approximately 1.2% of Adalta Capital Management LLC’s portfolio, making the stock its 19th biggest position. Adalta Capital Management LLC’s holdings in Danaher were worth $2,356,000 at the end of the most recent reporting period.

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

Danaher Price Performance

Shares of Danaher stock opened at $230.12 on Monday. Danaher Co. has a twelve month low of $215.68 and a twelve month high of $281.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. The firm has a market cap of $166.21 billion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 4.23 and a beta of 0.83. The firm’s 50-day simple moving average is $250.76 and its 200-day simple moving average is $258.32.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating the consensus estimate of $1.57 by $0.14. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.59 billion. Danaher had a net margin of 16.39% and a return on equity of 10.62%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.02 EPS. As a group, research analysts expect that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on DHR shares. Robert W. Baird reduced their target price on Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Raymond James reduced their price objective on shares of Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada dropped their target price on shares of Danaher from $333.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI upped their price target on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, KeyCorp lifted their price objective on Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Danaher currently has a consensus rating of “Moderate Buy” and an average price target of $287.16.

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.