Buckingham Asset Management LLC trimmed its stake in shares of Dover Corporation (NYSE:DOV) by 17.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,456 shares of the industrial products company’s stock after selling 1,130 shares during the period. Buckingham Asset Management LLC’s holdings in Dover Corporation were worth $499,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of 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 buying an additional 1,347 shares during the last quarter. IFP Advisors Inc raised its stake in shares of 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 buying an additional 227 shares during the last quarter. Cape Cod Five Cents Savings Bank bought a new stake in shares of Dover Corporation during the third quarter worth approximately $201,000. NBT Bank N A NY bought a new stake in shares of Dover Corporation during the third quarter worth approximately $202,000. Finally, Penserra Capital Management LLC raised its stake in shares of 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 buying an additional 258 shares during the last quarter. 85.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $96.00 target price on shares of Dover Corporation in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $92.00 target price on shares of Dover Corporation in a research note on Tuesday, October 17th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $96.00 target price (up previously from $90.00) on shares of Dover Corporation in a research note on Monday, October 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $106.00 target price (up previously from $97.00) on shares of Dover Corporation in a research note on Monday, October 2nd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $94.69.
Dover Corporation (DOV) traded up $1.31 during trading on Friday, hitting $94.01. 956,900 shares of the stock traded hands, compared to its average volume of 1,239,058. Dover Corporation has a 12 month low of $68.10 and a 12 month high of $97.09. The firm has a market capitalization of $14,680.00, a PE ratio of 25.68, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.87.
Dover Corporation (NYSE:DOV) last announced 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 business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. equities research analysts forecast that Dover Corporation will post 3.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, November 29th. Dover Corporation’s payout ratio is 43.72%.
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In related news, VP Paul Goldberg sold 2,430 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $93.50, for a total transaction of $227,205.00. 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 the 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 transaction, the director now owns 275,344 shares of the company’s stock, valued at approximately $26,342,160.48. The disclosure for this sale can be found here. Insiders have sold 56,830 shares of company stock valued at $5,435,157 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.
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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