Ifrah Financial Services Inc. acquired a new position in Dover Corporation (NYSE:DOV) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,972 shares of the industrial products company’s stock, valued at approximately $363,000.
A number of other institutional investors have also recently bought and sold shares of DOV. Cramer Rosenthal Mcglynn LLC boosted its stake in Dover Corporation by 132.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,797,775 shares of the industrial products company’s stock worth $144,218,000 after purchasing an additional 1,024,890 shares during the period. Bessemer Group Inc. boosted its stake in Dover Corporation by 108.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,598,035 shares of the industrial products company’s stock worth $128,193,000 after purchasing an additional 830,946 shares during the period. Bank of New York Mellon Corp boosted its stake in Dover Corporation by 22.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,951,213 shares of the industrial products company’s stock worth $236,747,000 after purchasing an additional 539,703 shares during the period. JPMorgan Chase & Co. boosted its stake in Dover Corporation by 11.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after purchasing an additional 511,469 shares during the period. Finally, BlackRock Inc. boosted its stake in Dover Corporation by 3.9% in the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after purchasing an additional 389,449 shares during the period. 85.01% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts recently commented on DOV shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Dover Corporation in a research note on Sunday, August 27th. Robert W. Baird set a $91.00 price objective on shares of Dover Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $91.00 price objective on shares of Dover Corporation in a research note on Wednesday, September 6th. Finally, Stifel Nicolaus raised their price objective on shares of Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.69.
In related news, VP Paul Goldberg sold 4,400 shares of Dover Corporation stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $95.25, for a total value of $419,100.00. Following the transaction, the vice president now owns 4,070 shares in the company, valued at approximately $387,667.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael B. Stubbs sold 41,505 shares of Dover Corporation stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the completion of the transaction, the director now owns 275,344 shares in the company, valued at approximately $26,342,160.48. The disclosure for this sale can be found here. Insiders have sold a total of 54,400 shares of company stock worth $5,207,952 in the last 90 days. 2.50% of the stock is owned by insiders.
Dover Corporation (NYSE:DOV) remained flat at $$93.79 during trading on Tuesday. 704,400 shares of the company’s stock traded hands, compared to its average volume of 1,243,285. The firm has a market cap of $14,611.65, a P/E ratio of 25.98, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. Dover Corporation has a fifty-two week low of $68.10 and a fifty-two week high of $97.09.
Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Dover Corporation had a net margin of 8.91% and a return on equity of 14.10%. Dover Corporation’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. research analysts predict that Dover Corporation will post 3.94 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.00%. Dover Corporation’s dividend payout ratio is currently 43.72%.
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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