Cushing Asset Management LP lessened its holdings in shares of Dover Corp (NYSE:DOV) by 40.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the industrial products company’s stock after selling 22,000 shares during the period. Cushing Asset Management LP’s holdings in Dover were worth $3,232,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Cerebellum GP LLC purchased a new position in shares of Dover during the 4th quarter worth approximately $133,000. Tower Research Capital LLC TRC lifted its holdings in Dover by 891.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after buying an additional 1,596 shares in the last quarter. Somerville Kurt F acquired a new stake in Dover during the 4th quarter worth approximately $202,000. Associated Banc Corp acquired a new stake in Dover during the 4th quarter worth approximately $202,000. Finally, Hemenway Trust Co LLC acquired a new stake in Dover during the 4th quarter worth approximately $203,000. 88.17% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:DOV opened at $93.19 on Friday. The stock has a market capitalization of $14,999.24, a PE ratio of 23.12, a PEG ratio of 1.27 and a beta of 1.30. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Dover Corp has a fifty-two week low of $76.47 and a fifty-two week high of $109.06.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. equities analysts predict that Dover Corp will post 5.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Tuesday, February 27th. Dover’s dividend payout ratio (DPR) is 46.65%.
DOV has been the topic of a number of research reports. BMO Capital Markets reiterated a “buy” rating on shares of Dover in a report on Friday, January 26th. Stifel Nicolaus restated a “hold” rating and issued a $112.00 price objective (up from $100.00) on shares of Dover in a report on Tuesday, January 16th. Seaport Global Securities reiterated a “hold” rating and set a $110.00 price target on shares of Dover in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $105.00 price target on shares of Dover in a research note on Wednesday, January 17th. Finally, JPMorgan Chase lowered shares of Dover from an “overweight” rating to a “neutral” rating in a research note on Monday, March 26th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $107.83.
In related news, SVP Patrick Burns acquired 510 shares of Dover stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $97.51 per share, for a total transaction of $49,730.10. Following the completion of the purchase, the senior vice president now directly owns 1,883 shares of the company’s stock, valued at $183,611.33. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Gary Kennon sold 15,702 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total transaction of $1,601,761.02. The disclosure for this sale can be found here. Insiders sold 19,897 shares of company stock valued at $2,031,745 in the last quarter. Company insiders own 2.50% of the company’s stock.
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Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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