Mechanics Bank Trust Department boosted its holdings in shares of Danaher Co. (NYSE:DHR) by 71.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,496 shares of the conglomerate’s stock after purchasing an additional 3,112 shares during the quarter. Mechanics Bank Trust Department’s holdings in Danaher were worth $1,083,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHR. MBM Wealth Consultants LLC increased its holdings in shares of Danaher by 2.0% in the second quarter. MBM Wealth Consultants LLC now owns 3,701 shares of the conglomerate’s stock valued at $529,000 after purchasing an additional 74 shares during the last quarter. Copperwynd Financial LLC increased its stake in Danaher by 1.9% during the second quarter. Copperwynd Financial LLC now owns 4,144 shares of the conglomerate’s stock worth $592,000 after acquiring an additional 79 shares during the last quarter. Lincoln National Corp increased its stake in Danaher by 3.1% during the second quarter. Lincoln National Corp now owns 2,666 shares of the conglomerate’s stock worth $381,000 after acquiring an additional 81 shares during the last quarter. Meridian Financial Partners LLC grew its stake in shares of Danaher by 3.0% in the second quarter. Meridian Financial Partners LLC now owns 2,847 shares of the conglomerate’s stock valued at $411,000 after buying an additional 83 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in shares of Danaher by 17.3% in the third quarter. Contravisory Investment Management Inc. now owns 563 shares of the conglomerate’s stock valued at $81,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 78.44% of the company’s stock.
In related news, SVP Angela S. Lalor sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $142.30, for a total value of $2,846,000.00. Following the sale, the senior vice president now owns 58,515 shares of the company’s stock, valued at approximately $8,326,684.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian W. Ellis sold 1,010 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $144.04, for a total value of $145,480.40. Following the completion of the sale, the insider now directly owns 20,889 shares in the company, valued at approximately $3,008,851.56. The disclosure for this sale can be found here. Insiders have sold a total of 35,678 shares of company stock worth $5,093,111 in the last three months. Corporate insiders own 11.40% of the company’s stock.
A number of equities research analysts have recently weighed in on DHR shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $155.00 price objective (up from $142.00) on shares of Danaher in a research note on Friday, July 19th. ValuEngine cut Danaher from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Piper Jaffray Companies lifted their price objective on Danaher from $148.00 to $153.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Argus lifted their target price on Danaher to $165.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $151.00 target price on shares of Danaher in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $146.29.
Shares of DHR stock opened at $138.01 on Monday. The stock has a market capitalization of $98.83 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94. Danaher Co. has a 52-week low of $94.59 and a 52-week high of $147.33. The stock’s 50-day moving average price is $141.25 and its 200 day moving average price is $137.63. The company has a quick ratio of 1.91, a current ratio of 2.32 and a debt-to-equity ratio of 0.33.
Danaher (NYSE:DHR) last issued its quarterly earnings results on Thursday, July 18th. The conglomerate reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. Danaher had a return on equity of 11.53% and a net margin of 12.22%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that Danaher Co. will post 4.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, September 26th. Danaher’s dividend payout ratio (DPR) is 15.04%.
Danaher Company Profile
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.
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