M&T Bank Corp Trims Stock Holdings in Danaher Co. (NYSE:DHR)

M&T Bank Corp cut its holdings in shares of Danaher Co. (NYSE:DHR) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 503,497 shares of the conglomerate’s stock after selling 946 shares during the period. M&T Bank Corp’s holdings in Danaher were worth $139,982,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Soltis Investment Advisors LLC raised its stake in Danaher by 19.3% during the 3rd quarter. Soltis Investment Advisors LLC now owns 1,563 shares of the conglomerate’s stock valued at $434,000 after acquiring an additional 253 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Danaher by 1.0% during the third quarter. TD Private Client Wealth LLC now owns 17,946 shares of the conglomerate’s stock worth $4,989,000 after purchasing an additional 169 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Danaher by 6.7% during the third quarter. Coldstream Capital Management Inc. now owns 16,318 shares of the conglomerate’s stock worth $4,512,000 after purchasing an additional 1,019 shares during the period. Prestige Wealth Management Group LLC grew its position in Danaher by 22.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,528 shares of the conglomerate’s stock valued at $425,000 after buying an additional 276 shares during the last quarter. Finally, Adalta Capital Management LLC increased its stake in Danaher by 52.3% in the 3rd quarter. Adalta Capital Management LLC now owns 8,467 shares of the conglomerate’s stock valued at $2,356,000 after buying an additional 2,907 shares during the period. 79.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Danaher from $278.00 to $277.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Guggenheim initiated coverage on Danaher in a report on Thursday. They issued a “buy” rating and a $275.00 price objective on the stock. Raymond James cut their target price on Danaher from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded Danaher from a “buy” rating to a “hold” rating in a research note on Saturday, December 14th. Finally, Wolfe Research raised Danaher from a “peer perform” rating to an “outperform” rating and set a $285.00 target price for the company in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $288.21.

Danaher Price Performance

DHR stock opened at $228.55 on Friday. The stock’s 50 day moving average price is $243.07 and its 200 day moving average price is $256.49. The firm has a market cap of $165.08 billion, a P/E ratio of 43.62, a PEG ratio of 4.33 and a beta of 0.83. 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 1 year low of $222.53 and a 1 year high of $281.70.

Danaher (NYSE:DHR) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.14. Danaher had a return on equity of 10.62% and a net margin of 16.39%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same quarter last year, the company earned $2.02 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, sell-side analysts expect that Danaher Co. will post 7.5 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, December 27th. Danaher’s payout ratio is 20.61%.

About Danaher

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.