Cambridge Investment Research Advisors Inc. increased its position in shares of Dover Corporation (NYSE:DOV) by 86.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,678 shares of the industrial products company’s stock after purchasing an additional 7,286 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Dover Corporation were worth $1,433,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its holdings in Dover Corporation by 388.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,347 shares during the last quarter. IFP Advisors Inc boosted its holdings in Dover Corporation by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 227 shares during the last quarter. Cape Cod Five Cents Savings Bank purchased a new position in Dover Corporation during the third quarter worth about $201,000. Penserra Capital Management LLC boosted its holdings in Dover Corporation by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 258 shares during the last quarter. Finally, Wellington Shields Capital Management LLC purchased a new position in Dover Corporation during the third quarter worth about $210,000. Institutional investors and hedge funds own 85.66% of the company’s stock.
In related news, Director Michael B. Stubbs sold 41,505 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $26,342,160.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen Gary Kennon sold 2,359 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $94.40, for a total transaction of $222,689.60. Following the completion of the transaction, the senior vice president now owns 5,192 shares of the company’s stock, valued at $490,124.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,189 shares of company stock valued at $5,657,846. Corporate insiders own 2.50% of the company’s stock.
Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, October 19th. The industrial products company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.05. Dover Corporation had a net margin of 8.91% and a return on equity of 14.10%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the company posted $0.83 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. equities research analysts expect that Dover Corporation will post 3.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.47 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 1.99%. Dover Corporation’s dividend payout ratio is 43.72%.
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Several research firms recently weighed in on DOV. BidaskClub cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Seaport Global Securities restated a “neutral” rating on shares of Dover Corporation in a report on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and set a $95.00 price target on shares of Dover Corporation in a report on Tuesday, September 12th. Zacks Investment Research cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $96.00 price target on shares of Dover Corporation in a report on Monday, October 23rd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $94.69.
Dover Corporation 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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