LPL Financial LLC lessened its stake in shares of Dover Corp (NYSE:DOV) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,865 shares of the industrial products company’s stock after selling 995 shares during the period. LPL Financial LLC’s holdings in Dover were worth $1,097,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Flinton Capital Management LLC boosted its position in shares of Dover by 13.2% in the fourth quarter. Flinton Capital Management LLC now owns 6,972 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 812 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Dover by 25.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,241 shares of the industrial products company’s stock valued at $1,035,000 after acquiring an additional 2,056 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Dover in the fourth quarter valued at approximately $316,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Dover by 9.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 29,292 shares of the industrial products company’s stock valued at $2,957,000 after acquiring an additional 2,619 shares during the period. Finally, Elkfork Partners LLC bought a new stake in shares of Dover in the fourth quarter valued at approximately $553,000. Institutional investors own 88.17% of the company’s stock.
Dover stock opened at $93.00 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01. Dover Corp has a 52-week low of $76.47 and a 52-week high of $109.06. The firm has a market cap of $14,390.81, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.22 and a beta of 1.30.
Dover (NYSE:DOV) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. Dover had a return on equity of 15.24% and a net margin of 10.37%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. equities analysts anticipate that Dover Corp will post 5.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.88 annualized dividend and a yield of 2.02%. Dover’s dividend payout ratio is currently 46.65%.
In other Dover news, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total transaction of $1,601,761.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Anthony K. Kosinski sold 895 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $104.34, for a total value of $93,384.30. Following the transaction, the vice president now owns 8,516 shares of the company’s stock, valued at $888,559.44. The disclosure for this sale can be found here. Insiders have sold 19,897 shares of company stock valued at $2,031,745 over the last quarter. Corporate insiders own 2.60% of the company’s stock.
DOV has been the subject of several research reports. BMO Capital Markets reissued a “buy” rating on shares of Dover in a research report on Friday, January 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $112.00 target price (up from $100.00) on shares of Dover in a research report on Tuesday, January 16th. Seaport Global Securities reaffirmed a “hold” rating and issued a $110.00 target price on shares of Dover in a research report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $105.00 target price on shares of Dover in a research report on Wednesday, January 17th. Finally, JPMorgan Chase cut Dover from an “overweight” rating to a “neutral” rating in a research report on Monday, March 26th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $107.83.
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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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