Eastover Investment Advisors LLC Makes New $1.15 Million Investment in Danaher Corporation $DHR

Eastover Investment Advisors LLC bought a new stake in Danaher Corporation (NYSE:DHR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,185 shares of the conglomerate's stock, valued at approximately $1,149,000.

A number of other hedge funds have also recently added to or reduced their stakes in DHR. BlackRock Inc. bought a new stake in shares of Danaher during the second quarter worth $10,492,520,000. State Street Corp raised its holdings in Danaher by 1.7% during the 4th quarter. State Street Corp now owns 27,681,334 shares of the conglomerate's stock worth $6,345,529,000 after purchasing an additional 472,608 shares during the last quarter. Capital International Investors raised its holdings in Danaher by 8.9% during the 4th quarter. Capital International Investors now owns 18,246,008 shares of the conglomerate's stock worth $4,177,386,000 after purchasing an additional 1,487,768 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Danaher by 10.4% in the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate's stock valued at $3,108,031,000 after purchasing an additional 1,542,310 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new stake in shares of Danaher during the second quarter worth $1,456,317,000. Institutional investors own 79.05% of the company's stock.

Danaher Stock Up 2.1%

Shares of Danaher stock traded up $4.43 on Monday, reaching $218.49. 713,007 shares of the company were exchanged, compared to its average volume of 4,454,141. The company has a market capitalization of $153.60 billion, a price-to-earnings ratio of 38.80, a PEG ratio of 2.67 and a beta of 0.76. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a 50-day moving average of $209.20 and a 200 day moving average of $193.70.

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

Danaher Dividend Announcement

The company 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 is Wednesday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Danaher's payout ratio is currently 28.42%.

Analyst Ratings Changes

DHR has been the topic of several recent analyst reports. Weiss Ratings upgraded Danaher from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, September 16th. Guggenheim boosted their target price on Danaher from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday. Royal Bank Of Canada increased their target price on shares of Danaher from $215.00 to $250.00 and gave the stock an "outperform" rating in a report on Monday. UBS Group started coverage on shares of Danaher in a research report on Wednesday, September 9th. They issued a "buy" rating and a $250.00 target price for the company. Finally, Evercore reiterated an "outperform" rating and issued a $230.00 price target on shares of Danaher in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.09.

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.

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