Danaher Corporation $DHR Shares Purchased by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department increased its Danaher stake by 188% in the third quarter, adding 18,273 shares to hold 27,995 shares worth approximately $6.2 million.
• Danaher reported quarterly adjusted earnings of $1.94 per share and revenue of $6.26 billion, surpassing analyst estimates; revenue rose 5.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $235.41. Danaher also declared a quarterly dividend of $0.40 per share.

Mechanics Bank Trust Department grew its holdings in shares of Danaher Corporation (NYSE:DHR - Free Report) by 188.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,995 shares of the conglomerate's stock after buying an additional 18,273 shares during the quarter. Mechanics Bank Trust Department's holdings in Danaher were worth $6,202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DHR. BlackRock Inc. acquired a new stake in shares of Danaher in the 2nd quarter worth about $10,492,520,000. Jupiter Topco LLC bought a new position in Danaher in the 2nd quarter valued at about $1,456,317,000. Generation Investment Management LLP acquired a new position in Danaher during the 2nd quarter valued at about $1,287,949,000. Bank of America Corp DE acquired a new position in Danaher during the 2nd quarter valued at about $993,846,000. Finally, Legal & General Group Plc acquired a new position in Danaher during the 2nd quarter valued at about $801,056,000. 79.05% of the stock is owned by institutional investors.

Danaher Stock Performance

Shares of Danaher stock traded up $2.10 during mid-day trading on Tuesday, hitting $223.30. 6,007,508 shares of the stock were exchanged, compared to its average volume of 4,462,041. Danaher Corporation has a 12 month low of $160.93 and a 12 month high of $242.80. The company has a 50-day simple moving average of $212.41 and a 200 day simple moving average of $195.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.65. The company has a market capitalization of $156.98 billion, a P/E ratio of 39.66, a P/E/G ratio of 2.74 and a beta of 0.76.

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

Danaher Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on DHR. Morgan Stanley boosted their price objective on Danaher from $220.00 to $240.00 and gave the stock an "overweight" rating in a report on Monday. Guggenheim raised their target price on Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Royal Bank Of Canada lifted their target price on Danaher from $215.00 to $250.00 and gave the company an "outperform" rating in a research report on Monday, October 5th. Stifel Nicolaus cut their target price on Danaher from $260.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group upped their price target on Danaher from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, September 21st. Two equities research 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 stock. Based on data from MarketBeat, Danaher currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.41.

Danaher Company Profile

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.

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