Sumitomo Mitsui Trust Group Inc. grew its stake in Danaher Corporation (NYSE:DHR – Free Report) by 3.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,861,336 shares of the conglomerate’s stock after buying an additional 68,792 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Danaher were worth $412,379,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in DHR. BlackRock Inc. bought a new stake in Danaher in the 2nd quarter valued at $10,492,520,000. Wellington Management Group LLP boosted its stake in Danaher by 10.4% in the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock worth $3,108,031,000 after purchasing an additional 1,542,310 shares during the period. Jupiter Topco LLC acquired a new position in Danaher in the 2nd quarter worth $1,456,317,000. Generation Investment Management LLP bought a new position in Danaher during the 2nd quarter worth about $1,287,949,000. Finally, Bank of America Corp DE bought a new position in Danaher during the 2nd quarter worth about $993,846,000. Institutional investors own 79.05% of the company’s stock.
Insider Activity
In other Danaher news, CAO Christopher Bouda sold 7,598 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $234.56, for a total value of $1,782,186.88. Following the sale, the chief accounting officer owned 9,107 shares in the company, valued at $2,136,137.92. This represents a 45.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Morgan Stanley lifted their target price on Danaher from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. The Goldman Sachs Group restated a “buy” rating and issued a $275.00 target price on shares of Danaher in a research note on Thursday, October 22nd. Weiss Ratings raised Danaher from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, September 16th. Finally, Evercore reaffirmed an “outperform” rating and set a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.91.
View Our Latest Analysis on DHR
Danaher Trading Down 2.0%
NYSE DHR opened at $232.22 on Friday. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a current ratio of 1.63, a quick ratio of 1.29 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $218.92 and a 200-day moving average of $201.77. The company has a market cap of $163.37 billion, a PE ratio of 38.01, a PEG ratio of 2.92 and a beta of 0.76.
Danaher (NYSE:DHR – Get Free Report) last issued its earnings results on Wednesday, October 21st. The conglomerate reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.19. Danaher had a net margin of 16.91% and a return on equity of 11.17%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Danaher Corporation will post 8.59 EPS for the current fiscal year.
Danaher Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher’s payout ratio is currently 26.19%.
About Danaher
Danaher Corporation (NYSE: DHR) is a global science and technology company that develops products, services and solutions for the life sciences, biotechnology and diagnostics markets. Its offerings help researchers, pharmaceutical and biotechnology companies, healthcare providers and other organizations conduct scientific research, develop and manufacture medicines, and diagnose disease.
The company operates through businesses that provide bioprocessing equipment and technologies, laboratory instruments, consumables, analytical tools and clinical diagnostic systems.
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