1ST Source Bank Sells 1,371 Shares of Danaher Co. (NYSE:DHR)

1ST Source Bank trimmed its holdings in Danaher Co. (NYSE:DHR) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,517 shares of the conglomerate’s stock after selling 1,371 shares during the period. 1ST Source Bank’s holdings in Danaher were worth $5,982,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in Danaher during the second quarter worth $25,000. nVerses Capital LLC acquired a new position in shares of Danaher during the 2nd quarter valued at about $25,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Danaher in the 3rd quarter valued at approximately $39,000. MidAtlantic Capital Management Inc. acquired a new stake in Danaher in the 3rd quarter worth approximately $40,000. Finally, FSA Wealth Management LLC acquired a new position in Danaher during the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 79.05% of the company’s stock.

Danaher Price Performance

Shares of NYSE DHR traded down $1.39 during midday trading on Friday, reaching $233.11. The company’s stock had a trading volume of 490,537 shares, compared to its average volume of 2,776,676. The company has a market cap of $168.37 billion, a P/E ratio of 44.75, a P/E/G ratio of 4.33 and a beta of 0.83. Danaher Co. has a fifty-two week low of $222.53 and a fifty-two week 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 business’s 50 day moving average price is $247.62 and its two-hundred day moving average price is $257.62.

Danaher (NYSE:DHR) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping the consensus estimate of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Danaher Co. will post 7.5 EPS for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.08 annualized dividend and a yield of 0.46%. Danaher’s dividend payout ratio is presently 20.61%.

Wall Street Analyst Weigh In

DHR has been the subject of a number of analyst reports. StockNews.com cut shares of Danaher from a “buy” rating to a “hold” rating in a research note on Thursday, December 5th. UBS Group dropped their price objective on Danaher from $309.00 to $305.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Stephens reaffirmed an “overweight” rating and issued a $315.00 target price on shares of Danaher in a report on Wednesday, October 23rd. Raymond James cut their price target on Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their price objective on shares of Danaher from $333.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $287.95.

Danaher Company 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.