State of New Jersey Common Pension Fund D Sells 140,508 Shares of Danaher Co. (NYSE:DHR)

State of New Jersey Common Pension Fund D trimmed its position in shares of Danaher Co. (NYSE:DHR) by 35.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 258,909 shares of the conglomerate’s stock after selling 140,508 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Danaher were worth $64,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DHR. Oak Thistle LLC acquired a new position in shares of Danaher in the 2nd quarter worth approximately $363,000. Caden Capital Partners LP increased its holdings in Danaher by 12.4% during the 4th quarter. Caden Capital Partners LP now owns 139,068 shares of the conglomerate’s stock worth $32,172,000 after purchasing an additional 15,313 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its stake in shares of Danaher by 10.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 572,858 shares of the conglomerate’s stock worth $132,524,000 after buying an additional 55,908 shares during the last quarter. HighPoint Advisor Group LLC acquired a new position in shares of Danaher during the 4th quarter worth about $2,614,000. Finally, Norden Group LLC acquired a new stake in Danaher in the 1st quarter valued at about $4,151,000. 79.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DHR shares. Robert W. Baird raised their target price on shares of Danaher from $271.00 to $278.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price objective on shares of Danaher in a research note on Friday, September 6th. Leerink Partners raised their target price on shares of Danaher from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays raised their target price on shares of Danaher from $270.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Stifel Nicolaus lifted their price target on shares of Danaher from $235.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.94.

Insider Transactions at Danaher

In other Danaher news, CEO Rainer Blair sold 9,007 shares of Danaher stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $280.00, for a total transaction of $2,521,960.00. Following the completion of the sale, the chief executive officer now directly owns 97,983 shares in the company, valued at approximately $27,435,240. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Danaher news, CFO Matthew Mcgrew sold 16,172 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the transaction, the chief financial officer now directly owns 29,407 shares in the company, valued at $8,229,254.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rainer Blair sold 9,007 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $280.00, for a total value of $2,521,960.00. Following the transaction, the chief executive officer now owns 97,983 shares in the company, valued at $27,435,240. The disclosure for this sale can be found here. Insiders have sold a total of 39,659 shares of company stock valued at $11,042,433 in the last 90 days. Insiders own 11.10% of the company’s stock.

Danaher Stock Performance

DHR opened at $271.98 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.43 and a quick ratio of 1.04. The company has a 50 day simple moving average of $263.20 and a two-hundred day simple moving average of $256.22. Danaher Co. has a 1-year low of $182.09 and a 1-year high of $281.70. The firm has a market cap of $196.43 billion, a P/E ratio of 46.10, a PEG ratio of 4.38 and a beta of 0.83.

Danaher (NYSE:DHR) last released its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.72 EPS for the quarter, beating the consensus estimate of $1.57 by $0.15. The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.59 billion. Danaher had a net margin of 16.94% and a return on equity of 11.06%. Danaher’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. Equities analysts forecast that Danaher Co. will post 7.59 earnings per share for the current fiscal year.

Danaher Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 0.40%. Danaher’s dividend payout ratio (DPR) is 18.31%.

Danaher Profile

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services that advance, accelerate, and integrate the development and manufacture of therapeutics; cell line and cell culture media development services; cell culture media, process liquids and buffers for manufacturing, chromatography resins, filtration technologies, aseptic fill finish; single-use hardware and consumables and services, such as the design and installation of full manufacturing suites; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes, and services; and healthcare filtration solutions.