Covington Capital Management boosted its position in Danaher Co. (NYSE:DHR) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,614 shares of the conglomerate’s stock after buying an additional 2,487 shares during the period. Covington Capital Management’s holdings in Danaher were worth $5,905,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation boosted its position in Danaher by 118.3% in the third quarter. Zions Bancorporation now owns 1,231 shares of the conglomerate’s stock valued at $106,000 after buying an additional 667 shares during the last quarter. Patten Group Inc. boosted its position in Danaher by 262.3% in the third quarter. Patten Group Inc. now owns 4,830 shares of the conglomerate’s stock valued at $114,000 after buying an additional 3,497 shares during the last quarter. First Personal Financial Services boosted its position in Danaher by 128.9% in the fourth quarter. First Personal Financial Services now owns 1,227 shares of the conglomerate’s stock valued at $114,000 after buying an additional 691 shares during the last quarter. Calton & Associates Inc. purchased a new stake in Danaher in the fourth quarter valued at approximately $114,000. Finally, Truewealth LLC purchased a new stake in Danaher in the fourth quarter valued at approximately $121,000. Hedge funds and other institutional investors own 77.83% of the company’s stock.
Shares of Danaher Co. (DHR) traded up $0.44 during mid-day trading on Wednesday, hitting $103.24. The stock had a trading volume of 70,105 shares, compared to its average volume of 2,631,587. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. The firm has a market cap of $72,128.68, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. Danaher Co. has a twelve month low of $78.97 and a twelve month high of $104.82.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. This is an increase from Danaher’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, March 28th. Danaher’s dividend payout ratio is presently 15.86%.
In other news, insider Rainer Blair sold 51,080 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.26, for a total transaction of $4,968,040.80. Following the completion of the transaction, the insider now directly owns 50,477 shares of the company’s stock, valued at approximately $4,909,393.02. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John T. Schwieters sold 10,578 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $100.30, for a total value of $1,060,973.40. Following the transaction, the director now directly owns 29,531 shares of the company’s stock, valued at $2,961,959.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,260 shares of company stock valued at $31,657,786. Corporate insiders own 12.20% of the company’s stock.
A number of equities research analysts recently commented on DHR shares. Credit Suisse Group reiterated a “hold” rating and issued a $99.00 target price on shares of Danaher in a research report on Tuesday, December 19th. Zacks Investment Research lowered Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Robert W. Baird reissued a “buy” rating on shares of Danaher in a report on Friday, January 12th. Royal Bank of Canada reissued a “hold” rating and issued a $96.00 price target on shares of Danaher in a report on Thursday, January 4th. Finally, UBS Group began coverage on Danaher in a report on Monday, January 22nd. They issued a “buy” rating and a $99.97 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Danaher has an average rating of “Buy” and an average price target of $101.40.
Danaher Company Profile
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. The Company operates through four segments: Life Sciences, which offers a range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines; Diagnostics; which offers analytical instruments, reagents, consumables, software and services; Dental, which provides products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums and supporting bone, and Environmental & Applied Solutions, which consists of various lines of business, including water quality and product identification.
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