New Covenant Trust Company N.A. Purchases 5,397 Shares of Danaher Corporation $DHR

New Covenant Trust Company N.A. acquired a new stake in shares of Danaher Corporation (NYSE:DHR) during the third quarter, Holdings Channel reports. The fund acquired 5,397 shares of the conglomerate’s stock, valued at approximately $1,196,000. Danaher comprises about 0.8% of New Covenant Trust Company N.A.’s portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Danaher in the second quarter valued at about $10,492,520,000. State Street Corp raised its position in shares of Danaher by 1.7% during the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate’s stock valued at $6,345,529,000 after acquiring an additional 472,608 shares in the last quarter. Wellington Management Group LLP lifted its stake in Danaher by 10.4% during the second 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 last quarter. Jupiter Topco LLC acquired a new position in Danaher in the second quarter worth $1,456,317,000. Finally, Generation Investment Management LLP bought a new stake in Danaher during the second quarter valued at $1,287,949,000. Institutional investors own 79.05% of the company’s stock.

Danaher Price Performance

NYSE:DHR traded down $3.85 during mid-day trading on Thursday, reaching $214.64. 2,982,970 shares of the stock were exchanged, compared to its average volume of 4,449,059. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $210.46 and a 200 day moving average price of $194.25. Danaher Corporation has a 1-year low of $160.93 and a 1-year high of $242.80. The firm has a market capitalization of $150.89 billion, a PE ratio of 38.14, a PEG ratio of 2.68 and a beta of 0.76.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. Danaher had a net margin of 15.95% and a return on equity of 11.04%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the prior year, the company earned $0.77 EPS. Danaher’s revenue was up 5.5% on a year-over-year basis. Research analysts expect that Danaher Corporation will post 8.53 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Danaher’s dividend payout ratio is currently 28.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DHR. The Goldman Sachs Group raised their price target on shares of Danaher from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Barclays upped their target price on Danaher from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus lowered their price objective on Danaher from $260.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $240.00 price target on shares of Danaher in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Danaher from $212.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.23.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that develops and manufactures products, services and solutions for the life sciences, diagnostics and biotechnology industries. Its offerings help researchers, healthcare professionals and biopharmaceutical manufacturers discover, develop, produce and analyze medicines and other biological products.

The company operates through businesses that provide laboratory instruments, consumables, software and services, including technologies for cell analysis, genomics, protein research, bioprocessing and clinical diagnostics.