Pactiv General Employee Benefit Trust Grows Stake in Danaher Co. (NYSE:DHR)
Pactiv General Employee Benefit Trust boosted its position in Danaher Co. (NYSE:DHR) by 51.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 579,300 shares of the conglomerate’s stock after purchasing an additional 198,000 shares during the quarter. Danaher makes up 8.6% of Pactiv General Employee Benefit Trust’s portfolio, making the stock its 4th biggest position. Pactiv General Employee Benefit Trust owned approximately 0.08% of Danaher worth $80,181,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Danaher during the fourth quarter valued at approximately $1,095,974,000. Fisher Asset Management LLC raised its stake in Danaher by 38,462.8% during the first quarter. Fisher Asset Management LLC now owns 1,878,392 shares of the conglomerate’s stock valued at $259,988,000 after buying an additional 1,873,521 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Danaher by 26.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,296,233 shares of the conglomerate’s stock valued at $812,866,000 after buying an additional 1,110,841 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Danaher by 12.8% in the fourth quarter. Janus Henderson Group PLC now owns 5,210,644 shares of the conglomerate’s stock worth $799,731,000 after acquiring an additional 592,810 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Danaher by 21.3% in the first quarter. Swiss National Bank now owns 2,778,920 shares of the conglomerate’s stock worth $384,630,000 after acquiring an additional 488,000 shares during the last quarter. Institutional investors and hedge funds own 77.80% of the company’s stock.
Shares of NYSE DHR traded up $1.74 during midday trading on Wednesday, hitting $168.70. 156,906 shares of the stock traded hands, compared to its average volume of 3,507,177. The firm has a market capitalization of $117.20 billion, a P/E ratio of 38.30, a PEG ratio of 3.73 and a beta of 0.91. Danaher Co. has a one year low of $119.60 and a one year high of $170.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.01 and a current ratio of 1.32. The firm has a 50-day moving average of $160.40 and a two-hundred day moving average of $152.64.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, June 26th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Thursday, June 25th. Danaher’s payout ratio is currently 16.29%.
In other news, CAO Robert S. Lutz sold 33,892 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $161.68, for a total value of $5,479,658.56. Following the completion of the sale, the chief accounting officer now directly owns 18,950 shares in the company, valued at approximately $3,063,836. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mitchell P. Rales bought 1,226 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $163.00 per share, for a total transaction of $199,838.00. Following the completion of the acquisition, the chairman now owns 2,236,454 shares in the company, valued at approximately $364,542,002. The disclosure for this purchase can be found here. Insiders sold a total of 85,318 shares of company stock worth $13,941,119 in the last quarter. Company insiders own 11.70% of the company’s stock.
DHR has been the topic of a number of analyst reports. Citigroup upped their price target on shares of Danaher from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Credit Suisse Group lifted their target price on shares of Danaher from $165.00 to $169.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Robert W. Baird reiterated a “buy” rating and set a $136.00 price target on shares of Danaher in a report on Monday, March 23rd. Wolfe Research lowered shares of Danaher from an “outperform” rating to a “market perform” rating and set a $154.00 price objective for the company. in a report on Thursday, April 2nd. Finally, Stifel Nicolaus increased their target price on Danaher from $147.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $168.69.
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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