New York State Common Retirement Fund increased its holdings in Dover Corporation (NYSE:DOV) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 410,600 shares of the industrial products company’s stock after acquiring an additional 10,300 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of Dover worth $37,525,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Dover by 11.5% in the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after acquiring an additional 511,469 shares during the period. Geneva Advisors LLC lifted its position in Dover by 25.3% during the second quarter. Geneva Advisors LLC now owns 5,763 shares of the industrial products company’s stock valued at $462,000 after buying an additional 1,162 shares during the period. Victory Capital Management Inc. lifted its position in Dover by 21.7% during the third quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock valued at $2,327,000 after buying an additional 4,534 shares during the period. Nuance Investments LLC lifted its position in Dover by 9.5% during the second quarter. Nuance Investments LLC now owns 38,146 shares of the industrial products company’s stock valued at $3,060,000 after buying an additional 3,310 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Dover by 10.9% during the second quarter. Principal Financial Group Inc. now owns 261,022 shares of the industrial products company’s stock valued at $20,939,000 after buying an additional 25,734 shares during the period. 84.60% of the stock is owned by institutional investors.
In related news, SVP Stephen Gary Kennon sold 2,359 shares of Dover stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $94.40, for a total value of $222,689.60. Following the completion of the sale, the senior vice president now directly owns 5,192 shares in the company, valued at approximately $490,124.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 41,505 shares of Dover stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the sale, the director now owns 275,344 shares of the company’s stock, valued at $26,342,160.48. 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. Corporate insiders own 2.50% of the company’s stock.
Several brokerages have commented on DOV. ValuEngine lowered Dover from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research lowered Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. SunTrust Banks reissued a “hold” rating and set a $96.00 price objective on shares of Dover in a research report on Monday, October 23rd. Stifel Nicolaus reissued a “hold” rating and set a $92.00 price objective on shares of Dover in a research report on Tuesday, October 17th. Finally, Citigroup reissued a “neutral” rating and set a $96.00 price objective (up previously from $90.00) on shares of Dover in a research report on Monday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $94.69.
Dover Corporation (NYSE:DOV) opened at $98.60 on Friday. Dover Corporation has a twelve month low of $74.53 and a twelve month high of $99.15. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $15,066.56, a price-to-earnings ratio of 26.79, a PEG ratio of 1.89 and a beta of 1.29.
Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. Dover had a return on equity of 14.10% and a net margin of 8.91%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the company earned $0.83 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. sell-side analysts anticipate that Dover Corporation will post 3.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 1.91%. Dover’s payout ratio is presently 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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