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.
ILLEGAL ACTIVITY WARNING: “Stifel Financial Corp Decreases Holdings in Dover Corporation (DOV)” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2017/12/15/stifel-financial-corp-decreases-holdings-in-dover-corporation-dov.html.
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.
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.