BTIM Corp. boosted its position in Dover Corporation (NYSE:DOV) by 20.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,225 shares of the industrial products company’s stock after buying an additional 3,675 shares during the period. BTIM Corp.’s holdings in Dover Corporation were worth $1,702,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised 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 during the period. Cambridge Investment Research Advisors Inc. increased its position in 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 position in Dover Corporation during the first quarter worth $6,512,000. Candriam Luxembourg S.C.A. increased its position in 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 position 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 worth $3,929,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.
Shares of Dover Corporation (NYSE DOV) traded down 0.21% on Friday, reaching $83.86. 620,549 shares of the company’s stock traded hands. The company’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 firm has a market capitalization of $13.06 billion, a P/E ratio of 20.97 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. Equities research analysts anticipate that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.47 per share. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is presently 44.11%.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. increased their price target on shares of Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Stifel Nicolaus increased their price target on shares of Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $89.00) on shares of Dover Corporation in a research note on Thursday, July 6th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.73.
In related news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate 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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