Engineers Gate Manager LP purchased a new stake in Dover Corporation (NYSE:DOV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,543 shares of the industrial products company’s stock, valued at approximately $2,209,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc grew its position in Dover Corporation by 15.1% in the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 227 shares during the period. Tower Research Capital LLC TRC grew its position in Dover Corporation by 5,446.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 1,743 shares during the period. Penserra Capital Management LLC grew its position in Dover Corporation by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 172 shares during the period. First Mercantile Trust Co. grew its position in Dover Corporation by 16.8% in the 1st quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 304 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in Dover Corporation in the 1st quarter valued at $200,000. 86.06% of the stock is owned by institutional investors and hedge funds.
In other Dover Corporation 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 value of $2,176,000.00. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
Shares of Dover Corporation (NYSE:DOV) opened at 87.30 on Friday. The company has a 50-day moving average price of $84.94 and a 200-day moving average price of $81.73. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $87.63. The company has a market capitalization of $13.60 billion, a PE ratio of 21.83 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. Analysts predict that Dover Corporation will post $4.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.15%. This is a boost 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 presently 47.12%.
A number of equities analysts have issued reports on DOV shares. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $90.00 price objective (up from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. CIBC reaffirmed a “hold” rating on shares of Dover Corporation in a report on Wednesday, May 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $87.00 price objective on shares of Dover Corporation in a report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $89.08.
Dover Corporation Company Profile
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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