New England Research & Management Inc. Makes New $691,000 Investment in Danaher Corporation $DHR

New England Research & Management Inc. bought a new position in Danaher Corporation (NYSE:DHR) in the third quarter, Holdings Channel reports. The firm bought 3,120 shares of the conglomerate’s stock, valued at approximately $691,000.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Danaher during the 2nd quarter valued at $10,492,520,000. Wellington Management Group LLP increased its holdings in Danaher by 10.4% in the 2nd quarter. Wellington Management Group LLP now owns 16,316,834 shares of the conglomerate’s stock worth $3,108,031,000 after acquiring an additional 1,542,310 shares during the last quarter. Jupiter Topco LLC purchased a new stake in Danaher in the 2nd quarter worth about $1,456,317,000. Generation Investment Management LLP purchased a new stake in Danaher in the 2nd quarter worth about $1,287,949,000. Finally, Bank of America Corp DE bought a new stake in Danaher in the 2nd quarter valued at about $993,846,000. 79.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on DHR. Stifel Nicolaus dropped their price objective on shares of Danaher from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. TD Cowen lifted their target price on shares of Danaher from $236.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on shares of Danaher from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 21st. Evercore reissued an “outperform” rating and issued a $230.00 price target on shares of Danaher in a research report on Monday, July 6th. Finally, Morgan Stanley upped their price target on shares of Danaher from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Danaher presently has a consensus rating of “Moderate Buy” and an average price target of $235.41.

Danaher Stock Performance

Shares of NYSE DHR traded down $2.63 during mid-day trading on Friday, hitting $228.87. The company had a trading volume of 3,516,366 shares, compared to its average volume of 4,667,069. The company has a market capitalization of $160.89 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.91 and a beta of 0.76. Danaher Corporation has a 1 year low of $160.93 and a 1 year high of $242.80. The company has a current ratio of 1.65, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average price is $214.04 and its 200-day moving average price is $195.97.

Danaher (NYSE:DHR) last released its quarterly earnings data on Monday, July 20th. The conglomerate reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.09. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.12 billion. Danaher had a return on equity of 11.04% and a net margin of 15.95%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. On average, sell-side analysts forecast that Danaher Corporation will post 8.53 earnings per share for the current year.

Danaher Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Danaher’s payout ratio is presently 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.