Icon Wealth Advisors LLC Grows Stock Holdings in Danaher Co. (NYSE:DHR)

Icon Wealth Advisors LLC lifted its stake in shares of Danaher Co. (NYSE:DHR) by 5.7% during the third quarter, HoldingsChannel.com reports. The fund owned 3,612 shares of the conglomerate’s stock after buying an additional 195 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Danaher were worth $1,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fort Pitt Capital Group LLC boosted its stake in shares of Danaher by 3.2% during 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 in the last quarter. Good Life Advisors LLC bought a new stake in Danaher during the 3rd quarter valued at $217,000. Oak Thistle LLC purchased a new position in shares of Danaher in the 2nd quarter valued at $363,000. Harvest Portfolios Group Inc. raised its position in shares of Danaher by 1.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 202,263 shares of the conglomerate’s stock worth $56,233,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Danaher by 75.4% during the 2nd quarter. Diversified Trust Co now owns 4,360 shares of the conglomerate’s stock worth $1,090,000 after purchasing an additional 1,874 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.

Danaher Stock Performance

NYSE DHR opened at $239.84 on Friday. The firm has a market capitalization of $173.23 billion, a P/E ratio of 45.77, a PEG ratio of 4.39 and a beta of 0.85. The stock has a 50-day simple moving average of $254.59 and a two-hundred day simple moving average of $259.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.37. Danaher Co. has a fifty-two week low of $215.68 and a fifty-two week high of $281.70.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.14. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Danaher had a return on equity of 10.62% and a net margin of 16.39%. Danaher’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $2.02 earnings per share. On average, equities analysts forecast that Danaher Co. will post 7.5 earnings per share for the current year.

Danaher Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, September 27th. Danaher’s payout ratio is currently 20.61%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DHR. Raymond James cut their target price on Danaher from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. KeyCorp boosted their price objective on shares of Danaher from $290.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays decreased their target price on shares of Danaher from $285.00 to $275.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. TD Cowen lifted their price target on shares of Danaher from $310.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Stephens reiterated an “overweight” rating and set a $315.00 price objective on shares of Danaher in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Danaher currently has an average rating of “Moderate Buy” and an average target price of $287.16.

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.