CNB Bank Acquires 130 Shares of Danaher Co. (NYSE:DHR)

CNB Bank boosted its stake in Danaher Co. (NYSE:DHR) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,777 shares of the conglomerate’s stock after purchasing an additional 130 shares during the period. CNB Bank’s holdings in Danaher were worth $867,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Fort Pitt Capital Group LLC increased its position in shares of Danaher by 3.2% during the third quarter. Fort Pitt Capital Group LLC now owns 238,092 shares of the conglomerate’s stock worth $66,194,000 after buying an additional 7,421 shares during the period. Good Life Advisors LLC acquired a new stake in shares of Danaher in the 3rd quarter worth about $217,000. ORG Partners LLC lifted its holdings in shares of Danaher by 1,212.8% in the fourth quarter. ORG Partners LLC now owns 2,770 shares of the conglomerate’s stock valued at $636,000 after purchasing an additional 2,559 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in Danaher by 1.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock worth $56,233,000 after acquiring an additional 2,465 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in Danaher by 1.3% during the third quarter. Stifel Financial Corp now owns 847,348 shares of the conglomerate’s stock worth $235,583,000 after purchasing an additional 11,216 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DHR. KeyCorp upped their price objective on Danaher from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price target on shares of Danaher from $310.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lifted their target price on shares of Danaher from $250.00 to $265.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Scotiabank initiated coverage on Danaher in a report on Monday, December 23rd. They set a “sector perform” rating and a $265.00 price objective on the stock. Finally, Wolfe Research upgraded shares of Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $286.80.

Danaher Price Performance

Danaher stock opened at $240.54 on Friday. The firm’s 50-day moving average is $235.07 and its two-hundred day moving average is $253.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.01. The stock has a market capitalization of $173.74 billion, a P/E ratio of 45.98, a P/E/G ratio of 4.23 and a beta of 0.83. Danaher Co. has a 12-month low of $222.53 and a 12-month high of $281.70.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.14. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $2.02 EPS. Equities analysts predict that Danaher Co. will post 7.49 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, December 27th. Danaher’s payout ratio is currently 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.