Pitcairn Co. raised its holdings in Dover Corp (NYSE:DOV) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,556 shares of the industrial products company’s stock after acquiring an additional 763 shares during the period. Pitcairn Co.’s holdings in Dover were worth $580,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Edgestream Partners L.P. acquired a new position in Dover in the 2nd quarter valued at $742,000. Rhumbline Advisers increased its holdings in shares of Dover by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock worth $23,207,000 after buying an additional 19,824 shares during the last quarter. Global X Management Co LLC increased its holdings in shares of Dover by 71.5% during the 2nd quarter. Global X Management Co LLC now owns 7,673 shares of the industrial products company’s stock worth $562,000 after buying an additional 3,199 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Dover by 33.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,622 shares of the industrial products company’s stock worth $412,000 after buying an additional 1,410 shares during the last quarter. Finally, Reilly Herbert Faulkner III increased its holdings in shares of Dover by 2.7% during the 2nd quarter. Reilly Herbert Faulkner III now owns 50,792 shares of the industrial products company’s stock worth $3,718,000 after buying an additional 1,328 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.
In related news, Director Mary A. Winston sold 2,000 shares of the stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the sale, the director now directly owns 13,055 shares in the company, valued at approximately $1,074,295.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on DOV. Citigroup upped their price objective on Dover from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Oppenheimer restated a “hold” rating on shares of Dover in a report on Thursday, July 19th. Barclays upped their price objective on Dover from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, July 20th. BMO Capital Markets dropped their price objective on Dover from $98.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, July 20th. Finally, Deutsche Bank set a $79.00 price objective on Dover and gave the stock a “hold” rating in a report on Thursday, July 12th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $89.77.
Shares of NYSE DOV opened at $85.82 on Wednesday. Dover Corp has a 12-month low of $70.12 and a 12-month high of $90.26. The firm has a market capitalization of $12.38 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.45 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.30 and a quick ratio of 0.88.
Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.07. Dover had a return on equity of 21.22% and a net margin of 9.69%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm earned $1.14 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts forecast that Dover Corp will post 4.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.92 annualized dividend and a yield of 2.24%. Dover’s dividend payout ratio is currently 47.64%.
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Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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