Stifel Financial Corp Decreases Holdings in Dover Corporation (DOV)

Stifel Financial Corp reduced its holdings in shares of Dover Corporation (NYSE:DOV) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,752 shares of the industrial products company’s stock after selling 1,623 shares during the quarter. Stifel Financial Corp’s holdings in Dover were worth $6,647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Welch & Forbes LLC lifted its position in shares of Dover by 0.7% during the third quarter. Welch & Forbes LLC now owns 211,043 shares of the industrial products company’s stock worth $19,287,000 after purchasing an additional 1,462 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Dover by 11.4% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 23,378 shares of the industrial products company’s stock worth $2,137,000 after purchasing an additional 2,400 shares in the last quarter. Sii Investments Inc. WI acquired a new position in shares of Dover during the third quarter worth $523,000. Schwab Charles Investment Management Inc. lifted its position in shares of Dover by 4.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 586,424 shares of the industrial products company’s stock worth $53,594,000 after purchasing an additional 26,930 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its position in shares of Dover by 3.8% during the third quarter. Commonwealth Bank of Australia now owns 25,120 shares of the industrial products company’s stock worth $2,289,000 after purchasing an additional 913 shares in the last quarter. Institutional investors own 84.60% of the company’s stock.

Shares of Dover Corporation (NYSE:DOV) opened at $95.75 on Friday. 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 Corporation has a 12 month low of $74.53 and a 12 month high of $99.15. The firm has a market cap of $14,983.99, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.29.

Dover (NYSE:DOV) last released its 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 net margin of 8.91% and a return on equity of 14.10%. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. equities research analysts forecast that Dover Corporation will post 3.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.88 annualized dividend and a yield of 1.96%. Dover’s payout ratio is 43.72%.

In other Dover 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 sale, the director now owns 275,344 shares in the company, valued at $26,342,160.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the vice president now owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,276 shares of company stock valued at $6,234,042. 2.50% of the stock is owned by insiders.

A number of research firms have recently commented on DOV. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price on shares of Dover in a research report on Thursday. ValuEngine cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $106.00 price target (up from $97.00) on shares of Dover in a report on Monday, October 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $96.00 price target on shares of Dover in a report on Monday, October 23rd. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Tuesday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $95.31.

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About Dover

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.

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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