Thrivent Financial For Lutherans reduced its stake in Dover Corp (NYSE:DOV) by 30.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,671 shares of the industrial products company’s stock after selling 69,294 shares during the quarter. Thrivent Financial For Lutherans owned about 0.10% of Dover worth $16,125,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. NewFocus Financial Group LLC lifted its position in Dover by 1.4% during the fourth quarter. NewFocus Financial Group LLC now owns 39,187 shares of the industrial products company’s stock worth $3,957,000 after buying an additional 528 shares during the period. Commonwealth Equity Services Inc lifted its position in Dover by 5.3% during the third quarter. Commonwealth Equity Services Inc now owns 11,590 shares of the industrial products company’s stock worth $1,059,000 after buying an additional 582 shares during the period. Crossmark Global Holdings Inc. lifted its position in Dover by 4.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,707 shares of the industrial products company’s stock worth $1,384,000 after buying an additional 584 shares during the period. Global Financial Private Capital LLC lifted its position in Dover by 15.8% during the fourth quarter. Global Financial Private Capital LLC now owns 4,526 shares of the industrial products company’s stock worth $457,000 after buying an additional 616 shares during the period. Finally, Nuance Investments LLC lifted its position in Dover by 1.6% during the fourth quarter. Nuance Investments LLC now owns 40,563 shares of the industrial products company’s stock worth $4,096,000 after buying an additional 651 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.
Shares of Dover stock traded down $1.04 during trading hours on Monday, reaching $99.04. The company’s stock had a trading volume of 229,153 shares, compared to its average volume of 1,139,031. The firm has a market capitalization of $15,454.79, a price-to-earnings ratio of 19.23, a PEG ratio of 1.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01. Dover Corp has a 12 month low of $76.23 and a 12 month high of $109.06.
Dover (NYSE:DOV) last posted its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. research analysts predict that Dover Corp will post 5.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.90%. Dover’s dividend payout ratio (DPR) is currently 36.50%.
In other news, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total value of $1,601,761.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul Goldberg sold 3,300 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $102.00, for a total value of $336,600.00. Following the completion of the sale, the vice president now owns 4,545 shares of the company’s stock, valued at approximately $463,590. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,897 shares of company stock valued at $2,031,745. Insiders own 2.50% of the company’s stock.
Several research firms recently weighed in on DOV. SunTrust Banks increased their target price on Dover to $106.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Morgan Stanley increased their target price on Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. BMO Capital Markets increased their target price on Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Friday, February 2nd. Finally, Seaport Global Securities reiterated a “hold” rating and set a $110.00 target price on shares of Dover in a research report on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Dover presently has a consensus rating of “Hold” and an average price target of $107.83.
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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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