State of New Jersey Common Pension Fund D Has $91.58 Million Position in Danaher Co. (NYSE:DHR)

State of New Jersey Common Pension Fund D cut its stake in shares of Danaher Co. (NYSE:DHR) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 425,316 shares of the conglomerate’s stock after selling 10,941 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Danaher were worth $91,583,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Danaher by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,336,163 shares of the conglomerate’s stock valued at $943,593,000 after purchasing an additional 96,524 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Danaher by 2.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,960,353 shares of the conglomerate’s stock valued at $523,479,000 after purchasing an additional 75,308 shares during the last quarter. Swiss National Bank grew its holdings in shares of Danaher by 1.1% during the 2nd quarter. Swiss National Bank now owns 2,809,820 shares of the conglomerate’s stock valued at $496,860,000 after purchasing an additional 30,900 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Danaher by 49.1% during the 2nd quarter. Fisher Asset Management LLC now owns 2,801,341 shares of the conglomerate’s stock valued at $495,361,000 after purchasing an additional 922,949 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Danaher by 2.0% during the 2nd quarter. Bessemer Group Inc. now owns 2,739,315 shares of the conglomerate’s stock valued at $484,392,000 after purchasing an additional 54,917 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors.

Danaher stock opened at $232.10 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.20 and a debt-to-equity ratio of 0.68. Danaher Co. has a 12-month low of $119.60 and a 12-month high of $240.51. The firm’s fifty day moving average is $216.49 and its 200 day moving average is $188.83. The company has a market capitalization of $164.88 billion, a PE ratio of 49.70, a PEG ratio of 3.49 and a beta of 0.88.

Danaher (NYSE:DHR) last released its earnings results on Thursday, October 22nd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.36. Danaher had a net margin of 17.73% and a return on equity of 11.88%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company earned $1.06 EPS. Danaher’s quarterly revenue was up 17.1% compared to the same quarter last year. Sell-side analysts expect that Danaher Co. will post 5.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, September 28th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.31%. Danaher’s payout ratio is presently 16.29%.

In related news, SVP Daniel Raskas sold 28,389 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $234.50, for a total transaction of $6,657,220.50. Following the transaction, the senior vice president now owns 38,850 shares in the company, valued at approximately $9,110,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert S. Lutz sold 24,594 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $233.19, for a total transaction of $5,735,074.86. Following the transaction, the chief accounting officer now owns 43,544 shares in the company, valued at approximately $10,154,025.36. The disclosure for this sale can be found here. Insiders have sold a total of 224,248 shares of company stock worth $49,077,431 in the last quarter. 11.70% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Danaher from $205.00 to $252.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Needham & Company LLC boosted their target price on shares of Danaher from $209.00 to $272.00 in a report on Tuesday. Wells Fargo & Company reissued a “buy” rating and set a $234.00 target price on shares of Danaher in a report on Tuesday, September 29th. Zacks Investment Research raised shares of Danaher from a “hold” rating to a “buy” rating and set a $203.00 target price on the stock in a report on Tuesday, July 21st. Finally, Bank of America boosted their price target on shares of Danaher from $181.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $213.00.

About Danaher

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company operates through three segments; Life Sciences, Diagnostics, and Environmental & Applied Solutions. The Life Sciences segment provides mass spectrometers; cellular analysis, lab automation, and centrifugation instruments; microscopes; and genomics consumables.

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Institutional Ownership by Quarter for Danaher (NYSE:DHR)

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