Mechanics Bank Trust Department Buys 148 Shares of Danaher Co. (NYSE:DHR)

Mechanics Bank Trust Department raised its stake in shares of Danaher Co. (NYSE:DHR) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,398 shares of the conglomerate’s stock after buying an additional 148 shares during the quarter. Mechanics Bank Trust Department’s holdings in Danaher were worth $2,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DHR. Vanguard Group Inc. increased its holdings in shares of Danaher by 7.4% in the first quarter. Vanguard Group Inc. now owns 60,107,030 shares of the conglomerate’s stock worth $15,009,928,000 after acquiring an additional 4,163,657 shares in the last quarter. Wellington Management Group LLP raised its holdings in Danaher by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 27,928,442 shares of the conglomerate’s stock worth $6,460,966,000 after buying an additional 2,998,161 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Danaher by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,757,558 shares of the conglomerate’s stock valued at $3,876,694,000 after buying an additional 1,619,586 shares in the last quarter. Capital International Investors boosted its holdings in shares of Danaher by 9.1% in the fourth quarter. Capital International Investors now owns 15,956,519 shares of the conglomerate’s stock valued at $3,691,735,000 after buying an additional 1,334,781 shares during the period. Finally, Norges Bank bought a new stake in shares of Danaher during the fourth quarter worth $1,752,382,000. 79.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Matthew Mcgrew sold 16,172 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $279.84, for a total transaction of $4,525,572.48. Following the completion of the transaction, the chief financial officer now owns 29,407 shares of the company’s stock, valued at $8,229,254.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Danaher news, CEO Rainer Blair sold 19,085 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $255.00, for a total transaction of $4,866,675.00. Following the completion of the sale, the chief executive officer now owns 115,995 shares of the company’s stock, valued at approximately $29,578,725. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Mcgrew sold 16,172 shares of the 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 sale, the chief financial officer now owns 29,407 shares of the company’s stock, valued at $8,229,254.88. The disclosure for this sale can be found here. Insiders have sold a total of 66,797 shares of company stock worth $18,039,944 in the last ninety days. Company insiders own 11.10% of the company’s stock.

Danaher Price Performance

Danaher stock traded down $0.53 during midday trading on Friday, reaching $268.11. The company’s stock had a trading volume of 2,017,772 shares, compared to its average volume of 2,898,902. The stock has a market cap of $198.59 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 4.62 and a beta of 0.83. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.33. Danaher Co. has a 52 week low of $182.09 and a 52 week high of $281.70. The business has a 50-day moving average price of $257.31 and a 200-day moving average price of $252.45.

Danaher (NYSE:DHR) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.15. Danaher had a net margin of 16.94% and a return on equity of 11.06%. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Danaher Co. will post 7.59 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on DHR shares. TD Cowen boosted their price objective on shares of Danaher from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Barclays upped their price objective on Danaher from $270.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Bank of America lifted their price objective on shares of Danaher from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Danaher from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. Finally, Jefferies Financial Group began coverage on Danaher in a report on Monday, June 3rd. They issued a “buy” rating and a $295.00 price objective for the company. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $276.88.

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.