Pacific Alternative Asset Management Company LLC bought a new stake in Dover Corporation (NYSE:DOV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,715 shares of the industrial products company’s stock, valued at approximately $1,421,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers National Bank lifted its stake in shares of Dover Corporation by 0.3% in the 1st quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 10 shares during the period. Cleararc Capital Inc. lifted its stake in shares of Dover Corporation by 0.4% in the 1st quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 15 shares during the period. Citizens Financial Group Inc RI lifted its stake in shares of Dover Corporation by 0.3% in the 2nd quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 15 shares during the period. Contravisory Investment Management Inc. lifted its stake in shares of Dover Corporation by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 23 shares during the period. Finally, FineMark National Bank & Trust lifted its stake in shares of Dover Corporation by 0.7% in the 2nd quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 23 shares during the period. Institutional investors own 86.01% of the company’s stock.
A number of research analysts have recently commented on DOV shares. Robert W. Baird set a $91.00 target price on Dover Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and issued a $94.00 target price on shares of Dover Corporation in a research note on Sunday, August 27th. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, July 18th. Citigroup Inc. raised their target price on Dover Corporation from $88.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $91.00 target price on shares of Dover Corporation in a research note on Wednesday, September 6th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $91.15.
Dover Corporation (NYSE DOV) traded up 0.39% on Friday, hitting $92.40. The stock had a trading volume of 133,362 shares. The company has a 50-day moving average price of $86.06 and a 200 day moving average price of $82.19. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $92.55. The firm has a market cap of $14.39 billion, a PE ratio of 23.10 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts forecast that Dover Corporation will post $4.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Tuesday, August 29th. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio is currently 47.12%.
In other news, Director Michael B. Stubbs sold 25,000 shares of the 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 approximately $23,965,941.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
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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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