PNC Financial Services Group Inc. Sells 26,363 Shares of Danaher Corp. (DHR)
PNC Financial Services Group Inc. cut its position in Danaher Corp. (NYSE:DHR) by 8.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,917 shares of the company’s stock after selling 26,363 shares during the period. PNC Financial Services Group Inc.’s holdings in Danaher Corp. were worth $23,276,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in DHR. Global X Management Co. LLC raised its stake in Danaher Corp. by 83.4% in the second quarter. Global X Management Co. LLC now owns 1,080 shares of the company’s stock worth $109,000 after buying an additional 491 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in Danaher Corp. by 15.3% in the second quarter. Thompson Davis & CO. Inc. now owns 1,284 shares of the company’s stock worth $130,000 after buying an additional 170 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in Danaher Corp. during the second quarter worth approximately $132,000. Benjamin F. Edwards & Company Inc. raised its stake in Danaher Corp. by 115.7% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,309 shares of the company’s stock worth $103,000 after buying an additional 702 shares in the last quarter. Finally, Wealthcare Capital Management LLC purchased a new stake in Danaher Corp. during the second quarter worth approximately $144,000. Hedge funds and other institutional investors own 74.86% of the company’s stock.
Danaher Corp. (NYSE:DHR) traded down 0.99% during midday trading on Wednesday, reaching $78.35. 506,545 shares of the company traded hands. The stock has a market capitalization of $54.19 billion, a P/E ratio of 21.92 and a beta of 1.06. Danaher Corp. has a 1-year low of $61.60 and a 1-year high of $82.64. The firm has a 50-day moving average of $78.41 and a 200-day moving average of $78.26.
Danaher Corp. (NYSE:DHR) last posted its earnings results on Thursday, October 20th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. Danaher Corp. had a return on equity of 12.90% and a net margin of 11.78%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that Danaher Corp. will post $3.59 earnings per share for the current year.
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DHR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Danaher Corp. from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Tuesday, September 27th. Jefferies Group reissued a “buy” rating on shares of Danaher Corp. in a research report on Thursday, September 8th. Evercore ISI reissued a “buy” rating and set a $89.00 price objective on shares of Danaher Corp. in a research report on Wednesday, October 12th. JPMorgan Chase & Co. reissued a “buy” rating and set a $90.00 price objective on shares of Danaher Corp. in a research report on Thursday, October 6th. Finally, RBC Capital Markets set a $86.00 price objective on shares of Danaher Corp. and gave the company a “hold” rating in a research report on Friday, October 21st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $92.14.
In other news, insider Thomas Patrick Joyce, Jr. sold 36,125 shares of the business’s stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $79.68, for a total transaction of $2,878,440.00. Following the sale, the insider now owns 205,407 shares in the company, valued at $16,366,829.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.60% of the company’s stock.
About Danaher Corp.
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates in five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental, and Industrial Technologies. Its Test & Measurement segment offers products, software and services.
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