Peapack Gladstone Financial Corp Boosts Stock Position in Danaher Co. (NYSE:DHR)

Peapack Gladstone Financial Corp grew its holdings in shares of Danaher Co. (NYSE:DHR - Free Report) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,616 shares of the conglomerate's stock after buying an additional 2,314 shares during the period. Peapack Gladstone Financial Corp's holdings in Danaher were worth $29,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in Danaher by 8.5% in the third quarter. Tidal Investments LLC now owns 52,947 shares of the conglomerate's stock worth $14,720,000 after purchasing an additional 4,156 shares during the period. Destination Wealth Management grew its stake in shares of Danaher by 1.7% in the third quarter. Destination Wealth Management now owns 159,355 shares of the conglomerate's stock worth $44,304,000 after acquiring an additional 2,686 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Danaher by 591.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 36,075 shares of the conglomerate's stock worth $10,030,000 after acquiring an additional 30,855 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Danaher in the third quarter worth $254,000. Finally, World Investment Advisors LLC grew its stake in shares of Danaher by 5.3% in the third quarter. World Investment Advisors LLC now owns 12,948 shares of the conglomerate's stock worth $3,600,000 after acquiring an additional 648 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. KeyCorp increased their target price on Danaher from $290.00 to $310.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their target price on shares of Danaher from $250.00 to $265.00 and gave the company a "hold" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company assumed coverage on shares of Danaher in a report on Tuesday, August 27th. They set an "equal weight" rating and a $280.00 price objective for the company. Wolfe Research raised shares of Danaher from a "peer perform" rating to an "outperform" rating and set a $285.00 target price for the company in a research report on Thursday, October 31st. Finally, TD Cowen boosted their target price on shares of Danaher from $310.00 to $315.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Danaher presently has a consensus rating of "Moderate Buy" and an average price target of $287.95.

Danaher Price Performance

Shares of Danaher stock traded up $0.39 during trading hours on Friday, hitting $234.89. The company's stock had a trading volume of 2,411,225 shares, compared to its average volume of 2,784,889. The company has a market cap of $169.66 billion, a PE ratio of 44.75, 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. The business has a 50 day moving average price of $247.62 and a two-hundred day moving average price of $257.62. Danaher Co. has a 12-month low of $222.53 and a 12-month high of $281.70.

Danaher (NYSE:DHR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.14. The company had revenue of $5.80 billion for 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%. The firm's revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 EPS. Analysts expect that Danaher Co. will post 7.5 earnings per share for the current fiscal year.

Danaher Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, December 27th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.08 dividend on an annualized basis and a yield of 0.46%. Danaher's dividend payout ratio is currently 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.