State Treasurer State of Michigan boosted its position in shares of Danaher Co. (NYSE:DHR) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,467 shares of the conglomerate’s stock after buying an additional 1,500 shares during the period. State Treasurer State of Michigan’s holdings in Danaher were worth $19,936,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. FMR LLC grew its position in Danaher by 10.3% in the second quarter. FMR LLC now owns 21,011,026 shares of the conglomerate’s stock worth $2,073,369,000 after acquiring an additional 1,963,116 shares during the period. Putnam Investments LLC grew its position in Danaher by 0.8% in the second quarter. Putnam Investments LLC now owns 6,385,003 shares of the conglomerate’s stock worth $630,072,000 after acquiring an additional 51,596 shares during the period. Findlay Park Partners LLP lifted its stake in Danaher by 4.8% during the second quarter. Findlay Park Partners LLP now owns 3,825,000 shares of the conglomerate’s stock worth $377,451,000 after purchasing an additional 175,000 shares in the last quarter. Schroder Investment Management Group lifted its stake in Danaher by 0.3% during the second quarter. Schroder Investment Management Group now owns 2,765,853 shares of the conglomerate’s stock worth $272,768,000 after purchasing an additional 9,606 shares in the last quarter. Finally, Fred Alger Management Inc. lifted its stake in Danaher by 7.1% during the second quarter. Fred Alger Management Inc. now owns 2,749,640 shares of the conglomerate’s stock worth $271,334,000 after purchasing an additional 181,154 shares in the last quarter. Institutional investors own 76.80% of the company’s stock.
Danaher stock traded down $0.36 during midday trading on Friday, reaching $104.39. The company’s stock had a trading volume of 2,608,564 shares, compared to its average volume of 3,078,206. Danaher Co. has a fifty-two week low of $91.65 and a fifty-two week high of $110.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.53 and a quick ratio of 1.08. The stock has a market cap of $72.94 billion, a PE ratio of 25.90, a P/E/G ratio of 2.00 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, September 28th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, September 27th. Danaher’s payout ratio is 15.88%.
In related news, CFO Daniel L. Comas sold 36,000 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $103.88, for a total transaction of $3,739,680.00. Following the transaction, the chief financial officer now owns 124,218 shares of the company’s stock, valued at $12,903,765.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donald J. Ehrlich sold 10,578 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $95.77, for a total value of $1,013,055.06. Following the transaction, the director now directly owns 105,491 shares in the company, valued at approximately $10,102,873.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 150,007 shares of company stock worth $15,202,163. Corporate insiders own 11.90% of the company’s stock.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Danaher from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a research note on Wednesday, September 19th. Morgan Stanley increased their price objective on Danaher from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, October 10th. Bank of America set a $113.00 price objective on Danaher and gave the company a “buy” rating in a research note on Thursday, July 19th. Royal Bank of Canada increased their price objective on Danaher to $107.00 and gave the company a “positive” rating in a research note on Thursday, July 19th. They noted that the move was a valuation call. Finally, Robert W. Baird reduced their price objective on Danaher from $116.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $112.14.
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Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
Further Reading: Understanding Price to Earnings Ratio (PE)
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