Dynamic Technology Lab Private Ltd bought a new position in Dover Corporation (NYSE:DOV) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,591 shares of the industrial products company’s stock, valued at approximately $1,059,000.
A number of other hedge funds have also recently modified their holdings of DOV. FMR LLC grew its position in Dover by 9.1% during the 1st quarter. FMR LLC now owns 131,857 shares of the industrial products company’s stock worth $10,594,000 after purchasing an additional 11,032 shares during the period. State of Alaska Department of Revenue grew its position in Dover by 8.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,189 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 240 shares during the period. Louisiana State Employees Retirement System grew its position in Dover by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the industrial products company’s stock worth $778,000 after purchasing an additional 100 shares during the period. Aperio Group LLC grew its position in Dover by 7.5% during the 2nd quarter. Aperio Group LLC now owns 106,124 shares of the industrial products company’s stock worth $8,513,000 after purchasing an additional 7,410 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in Dover during the 2nd quarter worth about $3,038,000. Institutional investors own 84.60% of the company’s stock.
In related news, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the completion of the transaction, the director now owns 275,344 shares in the company, valued at $26,342,160.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William T. Bosway sold 6,087 shares of the business’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 sale, the vice president now directly owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,276 shares of company stock valued at $6,234,042. Insiders own 2.50% of the company’s stock.
A number of research firms have recently commented on DOV. J P Morgan Chase & Co upgraded Dover from a “neutral” rating to an “overweight” rating and raised their target price for the company from $80.00 to $105.00 in a research report on Wednesday, September 20th. Morgan Stanley lifted their price objective on Dover from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, September 19th. Robert W. Baird reiterated a “buy” rating and issued a $95.00 price objective on shares of Dover in a report on Tuesday, September 12th. SunTrust Banks reiterated a “hold” rating and issued a $90.00 price objective on shares of Dover in a report on Thursday, October 12th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $92.00 target price on shares of Dover in a research note on Tuesday, October 17th. 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 presently has a consensus rating of “Hold” and a consensus target price of $94.69.
Dover Corporation (DOV) traded up $0.43 during trading on Thursday, reaching $96.71. 867,339 shares of the company traded hands, compared to its average volume of 1,213,793. Dover Corporation has a 12-month low of $74.53 and a 12-month high of $98.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.87. The firm has a market cap of $14,948.16, a P/E ratio of 26.58, a PEG ratio of 1.87 and a beta of 1.29.
Dover (NYSE:DOV) last posted its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion during 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 revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. research analysts predict that Dover Corporation will post 3.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 1.94%. Dover’s dividend payout ratio (DPR) is 43.72%.
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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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