Mechanics Bank Trust Department Buys 18,273 Shares of Danaher Corporation $DHR

Mechanics Bank Trust Department increased its stake in Danaher Corporation (NYSE:DHR) by 188.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,995 shares of the conglomerate’s stock after purchasing 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 quarter.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new position in Danaher during the second quarter valued at $10,492,520,000. Wellington Management Group LLP increased its position in Danaher by 10.4% in the second quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock worth $3,108,031,000 after buying an additional 1,542,310 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Danaher in the second quarter worth $1,456,317,000. Generation Investment Management LLP bought a new stake in shares of Danaher in the second quarter valued at $1,287,949,000. Finally, Bank of America Corp DE bought a new stake in shares of Danaher in the second quarter valued at $993,846,000. Institutional investors own 79.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen upped their price target on Danaher from $236.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on Danaher from $215.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, October 5th. UBS Group assumed coverage on Danaher in a report on Wednesday, September 9th. They issued a “buy” rating and a $250.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Danaher from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Finally, Morgan Stanley upped their price objective on shares of Danaher from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Monday. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.41.

Danaher Stock Performance

Danaher stock traded up $2.10 during mid-day trading on Tuesday, reaching $223.30. The company’s stock had a trading volume of 6,007,508 shares, 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 market capitalization of $156.98 billion, a P/E ratio of 39.66, a PEG ratio of 2.74 and a beta of 0.76. 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 firm’s fifty day moving average price is $212.41 and its two-hundred day moving average price is $195.13.

Danaher (NYSE:DHR) last posted its earnings results on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 earnings per share. Sell-side analysts predict that Danaher Corporation will post 8.53 EPS for the current fiscal year.

Danaher Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.40 dividend. 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 28.42%.

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.