Point72 Asset Management L.P. lessened its stake in shares of Dover Corporation (NYSE:DOV) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 443,636 shares of the industrial products company’s stock after selling 12,562 shares during the period. Point72 Asset Management L.P. owned approximately 0.28% of Dover worth $40,544,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Dover by 11.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock valued at $398,069,000 after acquiring an additional 511,469 shares during the last quarter. Geneva Advisors LLC boosted its holdings in shares of Dover by 25.3% in the 2nd quarter. Geneva Advisors LLC now owns 5,763 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 1,162 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Dover by 21.7% in the 3rd quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock valued at $2,327,000 after acquiring an additional 4,534 shares during the last quarter. Nuance Investments LLC boosted its holdings in shares of Dover by 9.5% in the 2nd quarter. Nuance Investments LLC now owns 38,146 shares of the industrial products company’s stock valued at $3,060,000 after acquiring an additional 3,310 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Dover by 10.9% in the 2nd quarter. Principal Financial Group Inc. now owns 261,022 shares of the industrial products company’s stock valued at $20,939,000 after acquiring an additional 25,734 shares during the last quarter. 84.60% of the stock is currently owned by institutional investors.
Shares of Dover Corporation (DOV) opened at $97.19 on Wednesday. Dover Corporation has a twelve month low of $74.53 and a twelve month high of $99.15. The stock has a market cap of $15,077.46, a price-to-earnings ratio of 26.81, a P/E/G ratio of 1.89 and a beta of 1.29. 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 (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. analysts anticipate that Dover Corporation will post 3.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, November 29th. Dover’s dividend payout ratio is presently 43.72%.
Several research firms have recently commented on DOV. ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. SunTrust Banks reaffirmed a “hold” rating and issued a $96.00 price objective on shares of Dover in a report on Monday, October 23rd. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Dover in a report on Tuesday, October 17th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $96.00 price objective (up from $90.00) on shares of Dover in a report on Monday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $94.69.
In other Dover news, VP William T. Bosway sold 6,087 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the transaction, the vice president now directly owns 21,877 shares in the company, valued at $2,070,876.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paul Goldberg sold 4,400 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $95.25, for a total transaction of $419,100.00. Following the transaction, the vice president now owns 4,070 shares of the company’s stock, valued at $387,667.50. The disclosure for this sale can be found here. Insiders have sold 65,276 shares of company stock valued at $6,234,042 over the last 90 days. 2.50% of the stock is currently owned by company insiders.
Dover 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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