Nuance Investments LLC increased its stake in shares of Dover Corp (NYSE:DOV) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,563 shares of the industrial products company’s stock after buying an additional 651 shares during the quarter. Nuance Investments LLC’s holdings in Dover were worth $4,096,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Dover by 17.1% in the third quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock valued at $531,702,000 after purchasing an additional 848,098 shares during the period. Pzena Investment Management LLC raised its position in Dover by 0.3% in the third quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock valued at $513,046,000 after purchasing an additional 14,504 shares during the period. Wells Fargo & Company MN raised its position in Dover by 2.3% in the third quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock valued at $292,968,000 after purchasing an additional 73,375 shares during the period. Third Point LLC purchased a new stake in Dover in the third quarter valued at $150,794,000. Finally, Bessemer Group Inc. raised its position in Dover by 3.2% in the third quarter. Bessemer Group Inc. now owns 1,648,845 shares of the industrial products company’s stock valued at $150,689,000 after purchasing an additional 50,810 shares during the period. Hedge funds and other institutional investors own 86.75% of the company’s stock.
Dover Corp (NYSE:DOV) traded up $0.68 during trading hours on Thursday, hitting $100.19. The stock had a trading volume of 679,904 shares, compared to its average volume of 1,172,524. Dover Corp has a twelve month low of $75.51 and a twelve month high of $109.06. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market cap of $15,443.98, a PE ratio of 19.45, a P/E/G ratio of 1.31 and a beta of 1.28.
Dover (NYSE:DOV) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. Dover had a return on equity of 15.24% and a net margin of 10.37%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the business earned $1.03 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. research analysts forecast that Dover Corp will post 5.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, February 27th. Dover’s payout ratio is currently 36.50%.
DOV has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “hold” rating and issued a $105.00 target price on shares of Dover in a research report on Wednesday, January 17th. Stifel Nicolaus reiterated a “hold” rating and issued a $100.00 price objective on shares of Dover in a report on Thursday, December 14th. ValuEngine downgraded Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BMO Capital Markets reissued a “buy” rating on shares of Dover in a research note on Friday, January 26th. Finally, Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $107.83.
In other Dover news, VP Anthony K. Kosinski sold 895 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $104.34, for a total transaction of $93,384.30. Following the completion of the sale, the vice president now directly owns 8,516 shares of the company’s stock, valued at approximately $888,559.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Patrick Burns acquired 510 shares of Dover stock in a transaction on Friday, March 2nd. The shares were bought at an average cost of $97.51 per share, with a total value of $49,730.10. Following the completion of the purchase, the senior vice president now owns 1,883 shares in the company, valued at $183,611.33. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by insiders.
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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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