Palmer Knight Co Buys 11,274 Shares of Danaher Co. (NYSE:DHR)

Palmer Knight Co lifted its position in Danaher Co. (NYSE:DHR) by 36.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 41,836 shares of the conglomerate’s stock after acquiring an additional 11,274 shares during the period. Danaher makes up about 4.3% of Palmer Knight Co’s investment portfolio, making the stock its 4th largest position. Palmer Knight Co’s holdings in Danaher were worth $9,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DHR. FMR LLC boosted its position in Danaher by 15.8% during the third quarter. FMR LLC now owns 23,617,424 shares of the conglomerate’s stock worth $6,566,116,000 after purchasing an additional 3,217,631 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Danaher by 3.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,097,986 shares of the conglomerate’s stock valued at $1,417,342,000 after purchasing an additional 148,251 shares in the last quarter. Fisher Asset Management LLC raised its stake in Danaher by 2.6% during the third quarter. Fisher Asset Management LLC now owns 4,552,640 shares of the conglomerate’s stock worth $1,265,725,000 after acquiring an additional 116,299 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Danaher by 17.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,582,982 shares of the conglomerate’s stock worth $996,141,000 after acquiring an additional 535,254 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of Danaher by 0.6% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,715,826 shares of the conglomerate’s stock worth $382,936,000 after purchasing an additional 9,942 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

DHR has been the topic of several research reports. Royal Bank of Canada reduced their price target on Danaher from $333.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird cut their price target on Danaher from $277.00 to $268.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen increased their price target on Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on Danaher from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Stephens restated an “overweight” rating and set a $315.00 price target on shares of Danaher in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.57.

Danaher Stock Down 10.0 %

DHR stock opened at $223.12 on Thursday. Danaher Co. has a fifty-two week low of $223.00 and a fifty-two week high of $281.70. The stock has a fifty day moving average of $236.09 and a 200-day moving average of $253.66. 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 company has a market capitalization of $161.16 billion, a price-to-earnings ratio of 42.58, a PEG ratio of 4.43 and a beta of 0.83.

Danaher (NYSE:DHR) last issued its earnings results on Wednesday, January 29th. The conglomerate reported $2.14 EPS for the quarter, hitting the consensus estimate of $2.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, equities research analysts predict that Danaher Co. will post 7.5 earnings per share for the current year.

Danaher Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be issued a $0.27 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.08 annualized dividend and a dividend yield of 0.48%. Danaher’s payout ratio is currently 20.61%.

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.