Zurcher Kantonalbank Zurich Cantonalbank Has $49.11 Million Stake in Danaher Co. (DHR)
Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Danaher Co. (NYSE:DHR) by 13.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 451,923 shares of the conglomerate’s stock after selling 73,113 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Danaher worth $49,106,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mitchell Capital Management Co. raised its stake in shares of Danaher by 31.6% during the second quarter. Mitchell Capital Management Co. now owns 7,962 shares of the conglomerate’s stock valued at $786,000 after purchasing an additional 1,914 shares during the period. Private Wealth Partners LLC increased its stake in shares of Danaher by 14.3% in the second quarter. Private Wealth Partners LLC now owns 95,800 shares of the conglomerate’s stock worth $9,454,000 after buying an additional 11,961 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of Danaher by 20.3% in the second quarter. Centaurus Financial Inc. now owns 3,026 shares of the conglomerate’s stock worth $299,000 after buying an additional 510 shares during the last quarter. Bainco International Investors increased its stake in shares of Danaher by 2.6% in the third quarter. Bainco International Investors now owns 66,878 shares of the conglomerate’s stock worth $7,267,000 after buying an additional 1,725 shares during the last quarter. Finally, First Midwest Bank Trust Division increased its stake in shares of Danaher by 18.2% in the third quarter. First Midwest Bank Trust Division now owns 6,462 shares of the conglomerate’s stock worth $702,000 after buying an additional 993 shares during the last quarter. Institutional investors own 77.31% of the company’s stock.
A number of analysts recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Danaher from $116.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Morgan Stanley lifted their price target on shares of Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 10th. Finally, Zacks Investment Research upgraded shares of Danaher from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research note on Wednesday, September 19th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $112.14.
Danaher (NYSE:DHR) last released its quarterly earnings data on Thursday, October 18th. The conglomerate reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. Danaher had a net margin of 14.07% and a return on equity of 11.59%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, analysts anticipate that Danaher Co. will post 4.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, September 28th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, September 27th. Danaher’s dividend payout ratio is presently 15.88%.
In other Danaher news, insider Thomas Patrick Joyce, Jr. sold 5,212 shares of Danaher stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $103.89, for a total value of $541,474.68. Following the completion of the transaction, the insider now owns 151,829 shares of the company’s stock, valued at $15,773,514.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Robert S. Lutz sold 15,000 shares of Danaher stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $103.80, for a total transaction of $1,557,000.00. Following the completion of the transaction, the senior vice president now directly owns 33,044 shares of the company’s stock, valued at approximately $3,429,967.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,007 shares of company stock valued at $15,202,163. 11.90% of the stock is currently owned by corporate insiders.
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Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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