DOCSLIB.ORG

Danaher Corporation (DHR) $86.08 Next Rpt Date: 20 Apr '17

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Danaher Corporation (DHR) $86.08 Next Rpt Date: 20 Apr '17 Danaher Corporation (DHR) $86.08 Next Rpt Date: 20 Apr '17 Profile Key Items Trading Information Valuation 5Y Trend Current vs. Ind vs. Bmrk Sector Industry Mkt Cap (M) EV (M) Sales (M) Health Technology Medical Specialties $59,678 $71,057 $19,889 Current Price $86.08 P/E (LTM) 23.6 1.1 1.2 52 Wk Range $65.42 - 86.08 P/E (NTM) 21.6 1.1 1.2 Avg Daily Vol (3m) 2.75 (M) Danaher Corp. operates as a medical company, which designs, manufactures, and markets healthcare, environmental, and industrial P/Sales 3.6 0.8 1.9 equipment. The firm operates its business through the following segments: Life Sciences, Diagnostics, Dental, and Environmental Short Int (% of Float) 1.0% P/Bk 2.6 0.7 0.9 and Applied Solutions. The Life Sciences segment offers a range of research and clinical tools that scientists use to study cells and P/CF 17.2 1.0 1.5 cell components in order to understand the causes of diseases; identify new therapies; and test new drugs and vaccines. The Key Statistics EV/EBITDA 17.3 1.1 1.4 Diagnostics segment comprises of analytical instruments, reagents, consumables, software, and services that hospitals, physician's offices, reference laboratories, and other critical care settings use to diagnose disease and make treatment decisions. The Dental Mkt Value (M) $59,678 EV/Sales 4.2 0.9 1.8 segment develops products that are used to diagnose, treat and prevent disease and ailments of the teeth, gums, and supporting Ent Value (M) $71,057 bones; as well as provide dental consumables, equipment, and services. The Environmental and Applied Solution segment engages Shares Out (M) 693.3 Profitability (%) 10Y Trend LTM Ind Bmrk in the development and manufacture of equipment, consumables, and software for various printing, marking, coding, design, and Dividend (Ann) $0.56 Gross Margin 54.3 64.2 30.9 color management applications on consumer and industrial products. The company was founded by Steven M. Rales and Mitchell P. Div Yld 0.7% EBITDA Margin 22.6 30.1 17.3 Rales in 1969 and is headquartered in Washington, DC. EBIT Margin 16.9 21.1 11.2 Estimates Net Margin 12.9 15.3 7.6 $86.08 EPS (FY0) $3.61 ROE 11.0 13.2 11.7 EPS (FY1) $3.93 YTD 10.6% EPS (FY2) $4.28 Growth (%) 10Y Trend LTM Ind Bmrk 3M 8.7% Coverage 21 Analysts Sales -4.9 7.0 -1.0 1Y 30.2% Target Price $90.03 EBITDA -0.8 9.8 -0.3 Beta 1.02 LT Growth Rate 10.0% FY1 PE 21.9x EBIT -3.3 7.4 -3.2 Avg Rating Buy (1.23) EPS (Dil) -0.2 -1.0 -5.4 Price & Volume StreetAccount News $ 86.08 0.00 / 0.00% 15 FEB '17 7:11 A.M. (ET) FDA clears Cepheid's Xpert Xpress Flu and Xpert Xpress Flu/RSV Intraday Range Volume: 0.00 (M) 85.01 86.08 10 FEB '17 4:44 P.M. (ET) 52 Week Range Avg Vol: 2.84 (M) Third Point discloses material changes in holdings in 13F filing 65.42 86.08 01 FEB '17 6:55 A.M. (ET) Danaher upgraded outperform from neutral at Credit Suisse 31 JAN '17 6:09 A.M. (ET) StreetAccount Metrics Recap - Danaher Q4 Earnings 31 JAN '17 6:04 A.M. (ET) Danaher reports Q4 adjusted EPS $1.05 vs FactSet $1.03 30 JAN '17 10:02 A.M. (ET) StreetAccount Consensus Metrics Preview - Danaher Q4 Earnings 18 JAN '17 6:15 A.M. (ET) Deutsche Bank initiates coverage of Life Science Tools & Diagnostics sector © 2017 FactSet Research Systems, Inc. Danaher Corporation (DHR) $86.08 Next Rpt Date: 20 Apr '17 Event Calendar Key Estimates Upcoming Events EPS Sales Earnings Dec '16 Dec '17E Dec '18E Dec '16 Mar '17E Jun '17E Sep '17E Date Time (EST) Description Actual Mean Actual Mean EPS - GAAP 3.08 3.20 3.56 1.07 0.65 0.80 0.79 20 Apr '17 - Q1 2017 Earnings Release (Projected) - 0.84 - 4,165 Growth (%) -16.1 3.8 11.4 0.9 -39.9 -15.0 41.6 EPS - Cash 3.61 3.93 4.28 1.05 0.84 0.98 0.97 20 Jul '17 - Q2 2017 Earnings Release (Projected) - 0.98 - 4,482 Growth (%) -16.0 8.8 9.1 -17.3 -22.2 9.2 11.6 19 Oct '17 - Q3 2017 Earnings Release (Projected) - 0.97 - 4,394 Income Statement (M) Dec '16 Dec '17E Dec '18E Dec '16 Mar '17E Jun '17E Sep '17E 30 Jan '18 - Q4 2017 Earnings Release (Projected) - 1.13 - 4,806 Sales 16,882 17,865 18,662 4,584 4,165 4,482 4,394 Past Events EPS Sales Growth (%) -17.9 5.8 4.5 -22.1 -22.7 5.7 6.3 Date Time (EST) Description Actual Mean Actual Mean EBITDA 3,944 4,260 4,623 1,034 920 1,052 1,040 23 Feb '17 09:10 AM Barclays Industrial Select Conference Growth (%) -15.0 8.0 8.5 -20.1 -23.4 5.6 11.6 31 Jan '17 07:30 AM Q4 2016 Earnings Call 1.05 1.03 4,584 4,530 Operating Income 2,758 3,106 3,436 729 634 757 750 10 Jan '17 02:30 PM J.P. Morgan Health Care Conference Growth (%) -21.1 12.6 10.6 -25.5 -28.5 6.7 7.2 15 Dec '16 09:30 AM Investor and Analyst Meeting Net Income 2,153 2,249 2,515 747 465 561 555 09 Nov '16 09:00 AM Robert W. Baird Global Industrial Conf…erence Growth (%) -19.6 4.4 11.8 -2.6 -38.7 -14.6 41.8 20 Oct '16 08:00 AM Q3 2016 Earnings Call 0.87 0.83 4,132 4,128 Per Share Dec '16 Dec '17E Dec '18E Dec '16 Mar '17E Jun '17E Sep '17E 15 Sep '16 12:20 PM Morgan Stanley Laguna Conference Dividends per Share 0.57 0.54 0.59 0.13 0.14 0.14 0.14 07 Sep '16 10:15 AM Vertical Research Partners Industrial C…onference Cash Flow per Share 4.69 5.29 5.59 1.50 1.14 1.28 1.29 Free Cash Flow per Share 3.57 4.53 5.07 0.70 0.69 1.13 1.13 Book Value per Share 33.39 37.24 40.68 33.09 33.52 34.31 35.09 Corporate Information Dividend Focus Management (6 of 20) Board (6 of 12) President, Chief Executive Officer & Director Chairman Thomas Patrick Joyce, 56 Stephen M. Rales, 66 Chief Financial Officer & Executive Vice President President, Chief Executive Officer & Director Daniel L. Comas, 53 Thomas Patrick Joyce, 56 Executive Vice President Director William K. Daniel, 52 Mitchell P. Rales, 60 Executive Vice President Independent Director Rainer Blair Walter G. Lohr, 73 Chief Accounting Officer & Senior Vice President Lead Independent Director Robert S. Lutz, 59 Donald Jerry Ehrlich, 79 Senior Vice President & General Counsel Independent Director Brian W. Ellis Alan G. Spoon, 64 DHR-US Bmrk Ex-Date Amount LTM Divs LTM Div Yld (%) Indicated Ann Dividend 0.6 3.8 29-Mar-2017 0.14 25.18 29.25 Dividend Yield 0.7% 2.0% 28-Dec-2016 0.125 25.34 32.43 Suite 800 West, 2200 Pennsylvani... Matthew E. Gugino Fiscal Year December 1 Yr Div Growth 4,592.6% 4.8% 28-Sep-2016 0.125 25.485 32.83 Washington, District Of Columbia Investor Relations Contact Exchange NYSE 3 Yr Div Growth 25,240.0% - 01-Jun-2016 0.16 25.36 33.92 20037-1701 danaher.com ISIN US2358511028 5 Yr Div Growth 28,055.6% - 22-Mar-2016 0.16 0.725 1.01 United States Employees (2016) 62,000 CUSIP 235851102 Div Increases in 5 Yrs 4 - 17-Dec-2015 0.135 0.7 1.01 SEDOL 2250870 Payout Ratio 693.9% 40.9% 30-Sep-2015 0.135 0.64 0.99 Coverage 0.1x - 24-Jun-2015 0.135 0.505 0.78 © 2017 FactSet Research Systems, Inc. Danaher Corporation (DHR) $86.08 Next Rpt Date: 20 Apr '17 Ownership Summary Top Holders - Institutions and Insiders FLOAT 87.8% Institutions Position (000) % O/S % Port 3M Chg (000) Mkt Value (USD) Shares Out 691,702,000 T. Rowe Price Associates, Inc. 58,315 8.4 0.9 -11,364 5,019,730,000 Short Interest 5,962,270 The Vanguard Group, Inc. 39,438 5.7 0.1 2,763 3,394,790,000 BlackRock Fund Advisors 26,985 3.9 0.1 3,890 2,322,860,000 SSgA Funds Management, Inc. 24,797 3.6 0.2 2,281 2,134,510,000 INSIDER 12.2% Massachusetts Financial Services Co. 20,409 3.0 0.6 -3,015 1,756,790,000 Inst. Ownership 78.9% Fidelity Management & Research Co. 17,157 2.5 0.2 -17,487 1,476,870,000 North American 68.3% Northern Trust Investments, Inc. 8,855 1.3 0.2 -788 762,275,000 Non-North American 10.6% Parnassus Investments 7,479 1.1 3.0 930 643,813,000 Inst Ownership as % of Float 89.9% Brown Advisory LLC 6,862 1.0 2.0 270 590,692,000 Top 10 Inst. Holders 31.3% Norges Bank Investment Management 6,349 0.9 0.1 0 546,479,000 Geode Capital Management LLC 5,486 0.8 0.2 631 472,252,000 Dodge & Cox 5,221 0.8 0.3 -1,433 449,447,000 NET POSITION CHANGE 5,162,766 Total (1424) 546,047,296 Insiders Position (000) % O/S % Port 3M Chg (000) Mkt Value (USD) New (181) 13,996,900 RALES STEPHEN M 43,144 6.2 68.8 0 3,713,830,000 Increase (605) 65,288,300 RALES MITCHELL P 39,494 5.7 68.6 0 3,399,610,000 Decrease (428) -66,246,900 LOHR WALTER G JR 609 0.1 100.0 0 52,455,200 Soldout (151) -7,875,510 COMAS DANIEL L 228 0.0 100.0 27 19,642,100 JOYCE THOMAS PATRICK JR 163 0.0 100.0 18 14,023,700 Revenue Exposure by Sector / Industry Revenue Exposure By Country Economy T o ta l L T M R e v e n u e : $ 1 9 .9 B Sector (4) Sub-Sector (5) Industry Group (5) Industry (5) Sub-Industry (5) % of Tot.
Load more

Recommended publications
  • HW&Co. Industry Reader Template
    EUROPEAN UPDATE INDUSTRY UPDATE │ SUMMER 2015 www.harriswilliams.com www.harriswilliams.de Harris Williams & Co. Ltd is a private limited company incorporated under English law having its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales under company number 7078852. Directors: Mr. Christopher Williams, Mr. Ned Valentine, Mr. Paul Poggi and Mr. Thierry Monjauze, authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. Ltd Niederlassung Frankfurt (German branch) is registered in the Commercial Register (Handelsregister) of the Local Court (Amtsgericht) of Frankfurt am Main, Germany, under registration number HRB 96687, having its business address at Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany. Permanent Representative (Ständiger Vertreter) of the Branch Niederlassung: Mr. Jeffery H. Perkins. EUROPEAN UPDATE INDUSTRY UPDATE │ SUMMER 2015 HARRIS WILLIAMS & CO. CONTACTS CONTENTS Thierry Monjauze Managing Director QUARTERLY QUICK READ 63 Brook Street London W1K 4HS United Kingdom EUROPEAN ECONOMIC CLIMATE Phone: +44 20 7518 8901 [email protected] EUROPEAN M&A ENVIRONMENT Red Norrie Managing Director EUROPEAN INBOUND M&A ENVIRONMENT 63 Brook Street London W1K 4HS United Kingdom AEROSPACE, DEFENCE & GOVERNMENT SERVICES Phone: +44 20 7518 8906 [email protected] BUSINESS SERVICES Jeffery Perkins Managing Director CONSUMER Bockenheimer Landstr. 33-35 60325 Frankfurt Germany ENERGY & POWER Phone: +49 69 3550638 00 [email protected] HEALTHCARE & LIFE SCIENCES LONDON OFFICE 63 Brook Street INDUSTRIALS London W1K 4HS United Kingdom Phone: +44 20 7518 8900 TECHNOLOGY, MEDIA & TELECOM FRANKFURT OFFICE Bockenheimer Landstrasse TRANSPORTATION & LOGISTICS 33-35 60325 Frankfurt am Main Germany FEATURED THEME Phone: +49 69 3650638 00 FEATURED THEME – MOMENTUM IN ACQUISITIONS BY STRATEGIC BUYERS1 .
    [Show full text]
  • Danaher—The Making of a Conglomerate
    UVA-BP-0549 Rev. Dec. 9, 2013 DANAHER—THE MAKING OF A CONGLOMERATE After joining Danaher Corporation (Danaher) in 1990, CEO H. Lawrence Culp helped transform the company from an $845 million industrial goods manufacturer to a $12.6 billion global conglomerate. Danaher’s 25-year history of acquisition-driven expansion had produced healthy stock prices as well as above average growth and profitability for more than 20 years (Exhibits 1 and 2); however, Wall Street had questioned the scalability of the company’s corporate strategy and its reliance on acquisitions since mid-2007. Prudential Equity Group had downgraded Danaher to underweight status, citing concerns over its inadequate organic growth. Company History (1984–91) In 1984, Steven and Mitchell Rales had formed Danaher by investing in undervalued manufacturing companies. The Rales brothers built Danaher by targeting family-owned or privately held companies with established brands, proprietary technology, high market share, and room for improvement in operating performance. Averaging 12 acquisitions per year (Exhibit 3), by 1986, Danaher was listed as a Fortune 500 company and held approximately 600 small and midsize companies. Acquisitions were concentrated in four areas: precision components (Craftsman hand tools), automotive and transportation (mechanics’ tools, tire changers), instrumentation (retail petrol pumps), and extruded products (vinyl siding). As these businesses grew and gained critical mass, Danaher used the term business unit to define any collection of similar businesses. Exhibit 4 provides a brief history of each of the original four businesses. Restructuring George Sherman was brought from Black & Decker as Danaher’s CEO following the crash of the LBO market in 1988.
    [Show full text]
  • Severance Agreement Includes a Release of Claims and Non-Compete Provisions
    severance agreement includes a release of claims and non-compete provisions. It is described below under “Payments Upon Termination, Disability or Death.” Comparative Compensation For comparative purposes, we generally focus on a group of publicly traded companies. We believe these comparison companies are representative of the types of firms with which we compete for executive talent, inasmuch as a number of the comparison companies operate one or more lines of business that compete with us. We believe we also compete for talent with private equity and other non-public companies, since the core skills and responsibilities required in our executives are generally not unique to our industries or markets. Other major factors we use to select this peer group include revenues and net income and market capitalization. The peer companies include: The Black & Decker Corporation M.D.C. Holdings, Inc. Danaher Corporation Newell Rubbermaid Inc. Dover Corporation NVR, Inc. D.R. Horton, Inc. PulteGroup, Inc. Emerson Electric Co. The Ryland Group, Inc. Fortune Brands, Inc. The Sherwin-Williams Company The Home Depot, Inc. SPX Corporation Illinois Tool Works Inc. The Stanley Works ITT Corporation Textron Inc. KB Home Toll Brothers, Inc. Lennar Corporation United Technologies Corporation Lowe’s Companies, Inc. 3M Company For each executive officer, we compare the overall competitiveness of total compensation, as well as each major component of compensation and the mix of components, with executives in comparable positions at our peer companies. Generally, when considering the competiveness of our total compensation packages to those of our peers, the Committee gives the most weight to information regarding the median level of base salary, target annual cash compensation, and target total compensation.
    [Show full text]
  • 2010 Annual Report
    2010 ANNUAL REPORT Segmentation Voice of the Customer Dynamic Resource Allocation Brand Management Policy Deployment MEASURING Risk Management Value Selling Innovation Talent SUCCESS Accelerated Product Development Sales Force Initiatives Emerging Markets Digital Marketing DBS 2010 ANNUAL REPORT In 2010, Danaher updated reporting segments to reflect the evolution of our business to a science and technology company. We now report results in five business segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental; and Industrial Technologies. TEST & MEASUREMENT Our Test & Measurement segment is a leading, global provider of electronic measurement instruments and monitoring, management and optimization tools for communications and enterprise networks and related services. Our products are used in the design, development, manufacture, installation, deployment and operation of electronics equipment and communications networks and services. Customers for our products and services include manufacturers of electronic instruments; service, installation and maintenance professionals; network equipment manufacturers who design, develop, manufacture and install network equipment and service providers who implement, maintain and manage communications networks and services. Also included in our Test & Measurement segment are our mobile tool and wheel service businesses. Financial Operating Highlights 2010 2009 (dollars in thousands except per share data and number of associates) Sales $ 13,202,602 $ 11,184,938 Operating profit
    [Show full text]
  • 2011 Cycle 3 Leaps Introduction
    TOBack: to Infomemo SearchALL CLEARING MEMBERS #25104 FROM: FRANCES KRISCHUNAS NATIONAL OPERATIONS DATE: NOVEMBER 12, 2008 SUBJECT: 2011 CYCLE 3 LEAPS INTRODUCTION The Options Clearing Corporation's ("OCC's") Participant Options Exchanges will begin trading 2011 LEAPS for cycle 3 options beginning Monday, November 17, 2008. The following is a list of those LEAPS symbols expected to be introduced. Market conditions may affect the actual introduction of any given symbol. Members are referred to the respective Exchange memos for their schedules. 2011 LEAPS OPTION STOCK SYMBOL SYMBOL SYMBOL COMPANY VIK ADI ADI ANALOG DEVICES INC VEF ADM ADM ARCHER DANIELS MIDLAND CO OVZ AKS AKS AK STEEL HOLDING CORP. XTA ALO ALO ALPHARMA INC VZT LTQ ALTR ALTERA CORP ZOW CQW AMED AMEDISYS INC VNB AYM AMG AFFILIATED MANAGERS GROUP OMY QEL AMKR AMKOR TECHNOLOGY,INC. OTA ANN ANN ANNTAYLOR STORES CORP VJV BNF ANR ALPHA NATURAL RESOURCES INC ZFJ ATW ATW ATWOOD OCEANICS , INC ZKU UQX AUXL Auxilium Pharmaceuticals Inc. VAT AZO AZO AUTOZONE INC. XSJ BBD BBD Banco Bradesco - ADR ZLS BBT BBT BB&T CORP VBY BBY BBY BEST BUY CO. INC. VXI BC BC BRUNSWICK CORP VFK BCE BCE BCE INC ZKO BCO BCO BRINK'S COMPANY THE ZRX BDU BIDU BAIDU.COM ADR OUY BK BK The Bank of New York Mellon Co VBM BMY BMY BRISTOL-MYERS ZEW BPZ BPZ BPZ Resources Inc ZZT BTU BTU PEABODY ENERGY CORP. VBD BUD BUD ANHEUSER-BUSCH CO XJM BX BX The Blackstone Group LP VBB BYD BYD BOYD GAMING CORP. VRN C C CITIGROUP INC Page: 1 2011 LEAPS OPTION STOCK SYMBOL SYMBOL SYMBOL COMPANY OYH CAG CAG CONAGRA FOODS OCJ CAH CAH CARDINAL HEALTH INC OVJ CAL CAL CONTINENTAL AIRLINES CLB ZCB CBS CBS CBS Corporation CL B ZBK CCJ CCJ CAMECO CORPORATION VCM CQL CENX CENTURY ALUMINUM COMPANY ZJZ CHL CHL China Mobile Limited ZXN CMC CMC COMMERCIAL METALS COMPANY OX CNM CME CME Group Inc ZTK QCY CMED CHINA MEDICAL TECH INC SPON ADR VBE CMI CMI CUMMINS INC.
    [Show full text]
  • Billing Code: 6750-01S
    This document is scheduled to be published in the Federal Register on 11/03/2015 and available online at http://federalregister.gov/a/2015-27992, and on FDsys.gov BILLING CODE: 6750-01S Federal Trade Commission Granting Of Request for Early Termination Of The Waiting Period Under The Premerger Notification Rules Section 7A of the Clayton Act, 15 U.S.C.§ 18a, as added by Title II of the Hart-Scott- Rodino Antitrust Improvements Act of 1976, requires persons contemplating certain mergers or acquisitions to give the Federal Trade Commission and the Assistant Attorney General advance notice and to wait designated periods before consummation of such plans. Section 7A(b)(2) of the Act permits the agencies, in individual cases, to terminate this waiting period prior to its expiration and requires that notice of this action be published in the Federal Register. The following transactions were granted early termination -- on the dates indicated -- of the waiting period provided by law and the premerger notification rules. The listing for each transaction includes the transaction number and the parties to the transaction. The grants were made by the Federal Trade Commission and the Assistant Attorney General for the Antitrust Division of the Department of Justice. Neither agency intends to take any action with respect to these proposed acquisitions during the applicable waiting period. 1 Early Terminations Granted March 1, 2015 thru September 30, 2015 03/03/2015 20150580 G FMR LLC ; The Guardian Life Insurance Company of America ; FMR LLC 03/06/2015 20150597 G Accenture plc ; Robert E LaRose Revocable Trust ; Accenture plc 20150614 G Hitachi Ltd.
    [Show full text]
  • Investor Relations | Snap-On Incorporated
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2004 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-7724 SNAP-ON INCORPORATED (Exact name of registrant as specified in its charter) Delaware 39-0622040 (State or other jurisdiction of (I.R.S. Employer Identification No.) incorporation or organization) 10801 Corporate Drive, Pleasant Prairie, Wisconsin 53158-1603 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: (262) 656-5200 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of exchange on which registered Common stock, $1 par value New York Stock Exchange Preferred stock purchase rights New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in a definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.
    [Show full text]
  • Interim Financial Statements DESJARDINS Etfs
    Interim Financial Statements DESJARDINS ETFs As at June 30, 2021 INTERIM FINANCIAL STATEMENTS (UNAUDITED) | NOTICE The following Desjardins ETFs’ Interim Financial Statements have not been subject to a review by the Funds’ external auditors. The Desjardins Exchange Traded Funds are not guaranteed, their value fluctuates frequently and their past performance is not indicative of their future returns. Commissions, management fees and expenses all may be associated with an investment in exchange traded funds. Please read the prospectus before investing. Desjardins Global Asset Management Inc. is the manager and portfolio manager of the Desjardins Exchange Traded Funds. Desjardins is a trademark owned by the Fédération des caisses Desjardins du Québec used under license. DESJARDINS RI GLOBAL MULTIFACTOR — FOSSIL FUEL RESERVES FREE ETF STATEMENT OF FINANCIAL POSITION (Unaudited) STATEMENT OF COMPREHENSIVE INCOME (Unaudited) AS AT JUNE 30 DECEMBER 31 PERIODS ENDED JUNE 30 2021 2020 2021 2020 $ $ $ $ Income ASSETS Dividends 135,434 101,105 Current Assets Foreign exchange gain (loss) on cash (4,526) 24,199 Cash 84,668 74,707 Revenue from securities lending activities 162 61 Investments at fair value through profit or loss (FVTPL) 14,318,475 10,020,095 Changes in fair value: Investments at fair value through profit or loss (FVTPL) Net realized gain (loss) on investments 461,159 325,797 pledged as collateral 270,863 95,612 Net unrealized gain (loss) on investments 467,105 49,851 Receivable for investments sold 7,943 33,687 1,059,334 501,013 Interest,
    [Show full text]
  • 2018 Participating Organizations
    2018 Participating Organizations 3M Company Albert Einstein College of Medicine, Inc. 7‐Eleven, Inc. Alerus Financial Corporation A. O. Smith Corporation Alfa Laval, Inc. A. O. Water Treatment Alfa Mutual Insurance Company A123 Systems LLC All Nippon Airways Co., Ltd. AAA Club Alliance Inc. Allegis Group AAA National Office Alliance Data Systems ‐ Card Services AAA Northern California, Nevada and Utah Alliant Energy Corporation Aaron's Inc. Allianz Asset Management of America L.P. Abbott Laboratories ‐ Nutrition Allied Motion Technologies, Inc. Abloy Security, Inc. Allina Health System ABRA Auto Body & Glass Allina Health System ‐ New Ulm Medical Center Abt Associates, Inc. Allnex Group Accenture, Inc. Allnex USA Inc. Accolade Ally Financial, Inc. Accolade Wines North America, Inc. Alorica AccorHotels NA Alto‐Shaam ACH Food Companies, Inc. Altria Group, Inc. ACUITY Alyeska Pipeline Service Company Acushnet Holdings Corporation Alys Beach Adidas America, Inc. Amazing Grass Adient US LLC Amazon.com ADT, LLC Amcor Rigid Plastics Advance Auto Parts, Inc. Amedisys, Inc. Advance Local AMERICA CENTRAL CORPORATION Advanced Drainage Systems, Inc. American Airlines Group, Inc. Adventist Chippewa Valley Hospital American Augers Adventist Health System American Bureau of Shipping Adventist Health System GA Inc. American Century Investments Advocate Health Care American Century Investments ‐ CA Aegis Therapies, LLC American Dental Partners, Inc. AET Inc., Ltd. ‐ AET Offshore Services, Inc. American Enterprise Group, Inc. AET, Inc., Ltd. American Family Insurance Aetna, Inc. American Financial Group, Inc. Affinion Group Holdings, Inc. American Financial Group, Inc. ‐ Great American Financial Aflac, Inc. Resources, Inc. Aflac, Inc. ‐ Communicorp, Inc. American Financial Group, Inc. ‐ Great American Insurance Agero, Inc. Group AgFirst Farm Credit Bank American Financial Group, Inc.
    [Show full text]
  • Danaher 01/26
    DANAHER Danaher, a diversified technology leader, designs, manufactures, and markets innovative products and services with strong brand names and significant market positions. Driven by strong core values and a foundation provided by the Danaher Business System, Danaher’s associates are pursuing a focused strategy aimed at creating a Premier Global Enterprise. ENERGIZED BY THE DANAHER BUSINESS SYSTEM In the mid-1980s, a Danaher division faced with intensifying competition launched an improvement effort THE CHALLENGE based on the then-new principles of lean manufacturing. The initiative succeeded beyond expectations – reinforcing the division's industry leadership as well as spawning the Danaher Business System (DBS). Since this modest beginning, DBS has evolved from a collection of manufacturing improvement tools into a philosophy, set of values, and series of management processes that collectively define who we are 2003 ANNUAL REPORT and how we do what we do. Fueled by Danaher's core values, the DBS engine drives the company through a never-ending cycle of 2099 Pennsylvania Avenue NW, 12th Floor 2003 ANNUAL REPORT change and improvement: exceptional people develop outstanding plans and execute them using world- Washington, DC 20006 class tools to construct sustainable processes, resulting in superior performance. Superior performance and high expectations attract additional exceptional people, who continue the cycle. Guiding all efforts 202.828.0850 is a simple approach rooted in four customer-facing priorities: Quality, Delivery, Cost,
    [Show full text]
  • The Gearwrench Hand Tool Line
    THE GEARWRENCH HAND TOOL LINE CATALOG NO. 1400 GearWrench® hand tools are warranted for Life to be free of defects in material and This Warranty shall not apply to Products which have been misused, abused, damaged workmanship. Carrying cases, pouches, accessory bits and consumable products, if any, by accident or otherwise, repaired by anyone other than an Authorized Repair Center or are not covered by this Warranty. modified by anyone other than Danaher Tool Group and is in lieu of all other warranties, whether express, implied or statutory. THE IMPLIED WARRANTIES OF MERCHANT ABIL- If use of any GearWrench Hand Tool® when used for its intended purpose, fails to give ITY AND FITNESS FOR A PARTICULAR PURPOSE ARE SPECIFICALLY EXCLUDED. Buyer’s complete satisfaction, return it to your GearWrench Distributor or contact Danaher Tool sole and exclusive remedy for breach of this Warranty is, at the option of Danaher Tool Group Professional Division at (800)-688-8949, and it will be repaired or replaced free Group, repair or replacement of the defective Product. IN NO EVENT WILL DANAHER of charge. *Except Torque Products TOOL GROUP BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUEN- TIAL OR PUNITIVE DAMAGES ARISING FROM BREACH OF THIS WARRANTY, EVEN IF *GearWrench Torque Products are warranted to (1) be free of defects in material and DANAHER TOOL GROUP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAM- workmanship for one year and (2) meet out of the box calibration accuracy standards as AGES. stated in the product literature. Accuracy standards for calibration are warranted for 90 days from date of purchase.
    [Show full text]
  • 51V Facilities Maintenance and Hardware
    GSA Federal Supply Service Facilities Maintenance and Hardware www.gsa.gov/cfmhproducts GSA CMLS Pre-sorted Standard Warehouse 9, Section F Postage & Fees Paid 501 W. Felix Street GSA P.O. Box 6477 Permit No. G-30 Fort Worth, TX 76115-6477 Official Business Penalty for Private Use, $300 Federal Supply Schedule www.gsa.gov January 2005 Multiple Award 51V 5-04-00012 Variable Contract Periods 5040-0012 Cumulative Edition 5 Years from Date of Award October, 2004 Federal Recycling Program Printed on Recycled Paper contentstable of ORDERING INFORMATION . 3 POINTS OF CONTACT. 6 PRODUCT LISTING Hardware Store . 14 Commercial Coatings, Adhesives, Sealants, Fuels and Lubricants . 22 Appliances . 33 To ols . 40 Lawn & Garden Equipment and Cattle Guards . 54 Woodworking and Metalworking . 63 Contractor Team Arrangements and Federal Supply Schedules. 70 Basic Guidelines for Using Contractor Team Arrangements . 71 Suggested Formats . 72 GSA Center for Facilities Maintenance and Hardware GSA Center for Facilities Maintenance and Hardware GSAcenter forf acility m aintenance and h ardware he General Services Administration (GSA) latest information, visit the Schedules E-Library Center for Facility Maintenance and Website at www.gsa.gov/elibrary. GSA awards THardware supports worldwide US competitive contracts to those companies who give us Government requirements for industrial quality hand the same or better discounts than their best tools; office and household appliances; paints and customers, and we pass those discounts on to you. paint brushes; sealants; adhesives; lawn and garden GSA has entered into Government-wide contracts with equipment; woodworking and metalworking equipment commercial firms to provide state-of-the-art, high and machinery; parts; accessories, and services.
    [Show full text]