Strs Ohio increased its stake in Dover Corporation (NYSE:DOV) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,908 shares of the industrial products company’s stock after buying an additional 322 shares during the period. Strs Ohio’s holdings in Dover Corporation were worth $794,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of DOV. Bank of America Corp DE raised its position in Dover Corporation by 9.4% in the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock valued at $517,953,000 after buying an additional 553,136 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Dover Corporation by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,584 shares of the industrial products company’s stock valued at $690,000 after buying an additional 625 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in Dover Corporation during the first quarter valued at $6,512,000. Candriam Luxembourg S.C.A. boosted its stake in Dover Corporation by 32.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,205 shares of the industrial products company’s stock valued at $1,141,000 after buying an additional 3,477 shares during the period. Finally, Amalgamated Bank boosted its stake in Dover Corporation by 6.1% in the first quarter. Amalgamated Bank now owns 10,799 shares of the industrial products company’s stock valued at $868,000 after buying an additional 619 shares during the period. Institutional investors and hedge funds own 85.73% of the company’s stock.
Dover Corporation (NYSE:DOV) opened at 83.86 on Friday. The stock has a market cap of $13.06 billion, a PE ratio of 20.97 and a beta of 1.27. The stock has a 50 day moving average price of $84.23 and a 200-day moving average price of $81.11. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $87.63.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. Dover Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, equities analysts expect that Dover Corporation will post $4.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio is currently 44.11%.
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DOV has been the subject of several research analyst reports. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, July 18th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $89.00 price objective (up previously from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Edward Jones cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Citigroup Inc. increased their price objective on Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $87.73.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.
Dover Corporation Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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