Danaher Corporation $DHR Shares Newly Acquired by New Covenant Trust Company N.A.

Key Points

• New Covenant Trust Company acquired 5,397 Danaher shares worth approximately $1.2 million in the third quarter, while several other institutional investors also increased or initiated positions. Institutions and hedge funds own 79.05% of Danaher’s outstanding shares.
• Danaher reported quarterly revenue of $6.26 billion and EPS of $1.94, beating analyst estimates, with revenue rising 5.5% year over year. Shares recently traded at $214.64, and the company maintains a quarterly dividend of $0.40 per share.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $235.23; Goldman Sachs, Guggenheim, UBS, and Deutsche Bank all maintain buy ratings with targets of $240 to $250.

New Covenant Trust Company N.A. purchased a new stake in shares of Danaher Corporation (NYSE:DHR - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,397 shares of the conglomerate's stock, valued at approximately $1,196,000. Danaher makes up 0.8% of New Covenant Trust Company N.A.'s portfolio, making the stock its 28th biggest position.

Other hedge funds have also modified their holdings of the company. Quintet Private Bank Europe S.A. increased its holdings in Danaher by 102.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,875 shares of the conglomerate's stock worth $415,000 after acquiring an additional 950 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in Danaher by 21.8% in the 3rd quarter. Toth Financial Advisory Corp now owns 6,631 shares of the conglomerate's stock valued at $1,469,000 after buying an additional 1,189 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in Danaher in the 3rd quarter valued at about $1,043,000. Vann Equity Management LLC purchased a new stake in Danaher in the third quarter valued at $1,911,000. Finally, Chickasaw Capital Management LLC acquired a new position in Danaher in the third quarter valued at about $576,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

Danaher Price Performance

Danaher stock traded down $3.85 during midday trading on Thursday, reaching $214.64. The company's stock had a trading volume of 2,982,970 shares, compared to its average volume of 4,449,059. The firm has a market capitalization of $150.89 billion, a PE ratio of 38.14, a P/E/G ratio of 2.68 and a beta of 0.76. Danaher Corporation has a fifty-two week low of $160.93 and a fifty-two week high of $242.80. The stock's 50 day simple moving average is $210.46 and its 200 day simple moving average is $194.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65.

Danaher (NYSE:DHR - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The conglomerate reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. Danaher had a return on equity of 11.04% and a net margin of 15.95%.The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Dividend Announcement

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

Analysts Set New Price Targets

DHR has been the topic of several research reports. The Goldman Sachs Group increased 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. Guggenheim boosted their price objective on Danaher from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. UBS Group assumed coverage on shares of Danaher in a report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 price objective on shares of Danaher in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Danaher from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.