Investec Asset Management PTY Ltd Increases Stake in Danaher Corporation (DHR)
Investec Asset Management PTY Ltd increased its holdings in shares of Danaher Corporation (NYSE:DHR) by 51.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,406 shares of the conglomerate’s stock after buying an additional 6,254 shares during the period. Danaher Corporation accounts for about 0.9% of Investec Asset Management PTY Ltd’s investment portfolio, making the stock its 21st biggest holding. Investec Asset Management PTY Ltd’s holdings in Danaher Corporation were worth $1,550,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Honeywell International Inc. bought a new stake in Danaher Corporation in the second quarter valued at approximately $25,317,000. Israel Discount Bank of New York bought a new stake in Danaher Corporation in the first quarter valued at approximately $209,000. Eastern Bank increased its stake in Danaher Corporation by 4,291.1% in the second quarter. Eastern Bank now owns 128,001 shares of the conglomerate’s stock valued at $10,802,000 after purchasing an additional 125,086 shares in the last quarter. Perkins Coie Trust Co increased its stake in Danaher Corporation by 2.0% in the second quarter. Perkins Coie Trust Co now owns 29,431 shares of the conglomerate’s stock valued at $2,484,000 after purchasing an additional 586 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in Danaher Corporation by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 977,381 shares of the conglomerate’s stock valued at $82,481,000 after purchasing an additional 13,689 shares in the last quarter. 75.66% of the stock is owned by institutional investors and hedge funds.
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Danaher Corporation (DHR) opened at 90.10 on Friday. The stock has a 50 day moving average of $86.38 and a 200 day moving average of $84.25. Danaher Corporation has a 12-month low of $76.27 and a 12-month high of $91.64. The firm has a market cap of $62.59 billion, a PE ratio of 28.76 and a beta of 1.03.
Danaher Corporation (NYSE:DHR) last released its quarterly earnings data on Thursday, October 19th. The conglomerate reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.47 billion. Danaher Corporation had a net margin of 12.63% and a return on equity of 11.15%. Danaher Corporation’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 EPS. On average, equities research analysts anticipate that Danaher Corporation will post $3.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be paid a $0.14 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 0.62%. Danaher Corporation’s dividend payout ratio is currently 17.83%.
In other Danaher Corporation news, insider William King sold 43,688 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $82.86, for a total transaction of $3,619,987.68. Following the completion of the sale, the insider now owns 45,748 shares in the company, valued at approximately $3,790,679.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas Patrick Joyce, Jr. sold 9,772 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $81.78, for a total transaction of $799,154.16. Following the sale, the insider now owns 155,520 shares of the company’s stock, valued at approximately $12,718,425.60. The disclosure for this sale can be found here. Insiders own 12.20% of the company’s stock.
Several equities research analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $95.00 target price (up previously from $86.00) on shares of Danaher Corporation in a research note on Friday, October 6th. Zacks Investment Research raised shares of Danaher Corporation from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Thursday, October 5th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Danaher Corporation in a research note on Friday, September 8th. Cowen and Company reaffirmed a “buy” rating and issued a $90.00 target price on shares of Danaher Corporation in a research note on Wednesday, October 4th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $83.00 target price on shares of Danaher Corporation in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Danaher Corporation presently has an average rating of “Buy” and a consensus price target of $92.62.
About Danaher Corporation
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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