Cullen Frost Bankers Inc. held its position in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,162 shares of the industrial products company’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in Dover Corporation were worth $1,217,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Dover Corporation by 12.4% in the fourth quarter. FMR LLC now owns 120,825 shares of the industrial products company’s stock valued at $9,053,000 after buying an additional 13,326 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock valued at $292,000 after buying an additional 100 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Dover Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 140,055 shares of the industrial products company’s stock valued at $11,253,000 after buying an additional 4,217 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in 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 valued at $3,929,000 after buying an additional 800 shares in the last quarter. Finally, National Pension Service boosted its stake in Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock valued at $11,688,000 after buying an additional 1,220 shares in the last quarter. Institutional investors and hedge funds own 85.73% of the company’s stock.
Dover Corporation (NYSE DOV) traded down 0.21% during trading on Friday, hitting $83.86. 620,549 shares of the stock traded hands. The firm’s 50-day moving average is $84.23 and its 200 day moving average is $81.11. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $87.63. The stock has a market cap of $13.06 billion, a P/E ratio of 20.97 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.76 earnings per share. The firm’s revenue was up 18.2% compared to the same quarter last year. Equities research analysts forecast that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. Dover Corporation’s dividend payout ratio (DPR) is 44.11%.
A number of brokerages have weighed in on DOV. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Bank of America Corporation increased their target price on shares of Dover Corporation from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Edward Jones cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Friday, April 21st. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $87.73.
In other news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director now directly owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by company 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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