Hemenway Trust Co LLC Sells 8,610 Shares of Danaher Corporation $DHR

Hemenway Trust Co LLC lowered its position in Danaher Corporation (NYSE:DHR) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,614 shares of the conglomerate’s stock after selling 8,610 shares during the period. Danaher accounts for 2.5% of Hemenway Trust Co LLC’s portfolio, making the stock its 18th largest holding. Hemenway Trust Co LLC’s holdings in Danaher were worth $32,240,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Danaher by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 60,769,587 shares of the conglomerate’s stock worth $12,004,424,000 after acquiring an additional 788,499 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Danaher by 0.6% during the second quarter. Geode Capital Management LLC now owns 13,726,194 shares of the conglomerate’s stock worth $2,697,800,000 after purchasing an additional 81,670 shares in the last quarter. Norges Bank bought a new stake in shares of Danaher during the second quarter valued at approximately $1,979,503,000. Generation Investment Management LLP increased its holdings in shares of Danaher by 56.2% in the second quarter. Generation Investment Management LLP now owns 4,965,646 shares of the conglomerate’s stock valued at $980,914,000 after purchasing an additional 1,787,522 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Danaher by 4.0% in the 2nd quarter. Franklin Resources Inc. now owns 4,822,442 shares of the conglomerate’s stock worth $952,625,000 after purchasing an additional 186,357 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors.

Danaher Stock Performance

Shares of Danaher stock opened at $208.51 on Thursday. The stock’s fifty day simple moving average is $227.62 and its 200 day simple moving average is $215.72. The company has a current ratio of 1.87, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $147.28 billion, a PE ratio of 41.37, a PEG ratio of 2.79 and a beta of 0.91. Danaher Corporation has a 12 month low of $171.00 and a 12 month high of $242.80.

Danaher (NYSE:DHR) last posted its earnings results on Tuesday, January 27th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.09. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.79 billion. Danaher had a return on equity of 10.81% and a net margin of 14.71%.The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 earnings per share. On average, research analysts predict that Danaher Corporation will post 7.63 EPS for the current year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, December 26th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, December 26th. Danaher’s dividend payout ratio is presently 25.40%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DHR. HSBC increased their price objective on Danaher from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Jefferies Financial Group lifted their price objective on Danaher from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Barclays boosted their price objective on Danaher from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Argus set a $265.00 target price on shares of Danaher in a research note on Wednesday, January 14th. Finally, Evercore reissued an “outperform” rating and set a $254.00 price target on shares of Danaher in a research note on Wednesday, January 28th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $253.86.

Danaher Profile

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.