Canton Hathaway LLC Increases Stake in Danaher Co. (NYSE:DHR)

Canton Hathaway LLC grew its stake in shares of Danaher Co. (NYSE:DHR) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,612 shares of the conglomerate’s stock after acquiring an additional 170 shares during the quarter. Danaher comprises about 1.1% of Canton Hathaway LLC’s investment portfolio, making the stock its 13th biggest holding. Canton Hathaway LLC’s holdings in Danaher were worth $3,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Danaher in the second quarter worth approximately $26,000. McCarthy Asset Management Inc. purchased a new position in shares of Danaher in the second quarter worth approximately $27,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Danaher by 146.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 101 shares of the conglomerate’s stock worth $27,000 after buying an additional 60 shares during the last quarter. Alaethes Wealth LLC purchased a new position in shares of Danaher in the second quarter worth approximately $32,000. Finally, PrairieView Partners LLC bought a new stake in Danaher during the 3rd quarter worth approximately $45,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

DHR traded up $1.96 during trading hours on Thursday, hitting $315.48. The company’s stock had a trading volume of 1,557,837 shares, compared to its average volume of 2,413,020. The business’s 50-day moving average price is $308.25 and its 200-day moving average price is $292.45. Danaher Co. has a 12 month low of $211.22 and a 12 month high of $333.96. The stock has a market cap of $225.43 billion, a price-to-earnings ratio of 39.98, a P/E/G ratio of 2.35 and a beta of 0.70. The company has a current ratio of 1.48, a quick ratio of 1.11 and a debt-to-equity ratio of 0.59.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Wednesday, October 20th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.24. Danaher had a net margin of 20.97% and a return on equity of 18.32%. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. Danaher’s quarterly revenue was up 22.0% on a year-over-year basis. On average, analysts forecast that Danaher Co. will post 9.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 29th. Shareholders of record on Thursday, September 30th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.27%. The ex-dividend date was Wednesday, September 29th. Danaher’s payout ratio is 10.65%.

A number of equities research analysts have commented on the stock. Bank of America raised their target price on shares of Danaher from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. Royal Bank of Canada raised their target price on shares of Danaher from $332.00 to $334.00 and gave the stock a “sector perform” rating in a research note on Friday, October 22nd. KeyCorp raised their target price on shares of Danaher from $315.00 to $345.00 and gave the stock an “overweight” rating in a research note on Friday, October 22nd. Barclays raised their target price on shares of Danaher from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Friday, October 22nd. Finally, Credit Suisse Group lifted their price objective on shares of Danaher from $306.00 to $370.00 and gave the company an “outperform” rating in a research report on Friday, September 10th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $334.36.

In other Danaher news, EVP Joakim Weidemanis sold 5,000 shares of Danaher stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $297.55, for a total transaction of $1,487,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda P. Hefner sold 2,185 shares of the business’s stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $303.72, for a total transaction of $663,628.20. The disclosure for this sale can be found here. Insiders have sold 694,908 shares of company stock valued at $214,929,432 over the last ninety days. 11.40% of the stock is owned by insiders.

About Danaher

Danaher Corp. operates as a medical company, which designs, manufactures, and markets professional, medical, industrial, and commercial products and services. It operates through the following segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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