Bbva Compass Bancshares Inc. decreased its position in Dover Corporation (NYSE:DOV) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,563 shares of the industrial products company’s stock after selling 50 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Dover Corporation were worth $2,292,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Dover Corporation by 9.4% in the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after buying an additional 553,136 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Dover Corporation by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,584 shares of the industrial products company’s stock worth $690,000 after buying an additional 625 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Dover Corporation during the first quarter worth about $6,512,000. Candriam Luxembourg S.C.A. increased its stake in shares of Dover Corporation by 32.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,205 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 3,477 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Dover Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 48,908 shares of the industrial products company’s stock worth $3,929,000 after buying an additional 800 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Dover Corporation (DOV) traded down 0.54% during mid-day trading on Friday, reaching $85.05. The company had a trading volume of 863,450 shares. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.63. The firm has a 50-day moving average price of $83.36 and a 200 day moving average price of $80.94. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 21.26 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. Dover Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. Analysts expect that Dover Corporation will post $4.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is currently 44.11%.
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DOV has been the topic of a number of analyst reports. Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, July 18th. Royal Bank Of Canada restated a “sector perform” rating and set a $89.00 target price (up from $86.00) on shares of Dover Corporation in a research note on Sunday, April 23rd. Edward Jones cut Dover Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 22nd. Citigroup Inc. upped their target price on Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Barclays PLC upped their target price on Dover Corporation from $78.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Dover Corporation has an average rating of “Hold” and an average price target of $87.73.
In related news, Director Michael B. Stubbs sold 40,000 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the transaction, the director now owns 275,344 shares in the company, valued at $22,914,127.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the transaction, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
About Dover Corporation
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.
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