Citizens Business Bank Has $3.25 Million Holdings in Danaher Co. (NYSE:DHR)

Citizens Business Bank decreased its stake in shares of Danaher Co. (NYSE:DHR) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 11,706 shares of the conglomerate’s stock after selling 252 shares during the period. Citizens Business Bank’s holdings in Danaher were worth $3,254,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Fort Pitt Capital Group LLC raised its position in shares of Danaher by 3.2% in the third 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 period. Good Life Advisors LLC bought a new position in Danaher in the 3rd quarter worth $217,000. Oak Thistle LLC acquired a new position in Danaher during the 2nd quarter worth $363,000. Harvest Portfolios Group Inc. boosted its holdings in Danaher by 1.2% during the third quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock valued at $56,233,000 after acquiring an additional 2,465 shares during the period. Finally, Diversified Trust Co grew its position in shares of Danaher by 75.4% in the second quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock valued at $1,090,000 after purchasing an additional 1,874 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DHR has been the subject of several research analyst reports. TD Cowen boosted their price objective on Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Danaher from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. Raymond James reduced their price objective on Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI upped their target price on shares of Danaher from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, KeyCorp raised their price target on shares of Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $287.16.

Danaher Price Performance

Shares of DHR stock opened at $234.45 on Wednesday. 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’s fifty day simple moving average is $249.91 and its 200 day simple moving average is $258.14. Danaher Co. has a one year low of $217.96 and a one year high of $281.70. The firm has a market cap of $169.34 billion, a price-to-earnings ratio of 44.74, a P/E/G ratio of 4.23 and a beta of 0.83.

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

Danaher Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.46%. Danaher’s payout ratio is 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.