Alliancebernstein L.P. lifted its position in Dover Corporation (NYSE:DOV) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,463,254 shares of the industrial products company’s stock after purchasing an additional 41,849 shares during the quarter. Alliancebernstein L.P. owned 0.94% of Dover Corporation worth $117,382,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. IFP Advisors Inc lifted its stake in shares of 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 acquiring an additional 227 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of 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 acquiring an additional 1,743 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of 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 acquiring an additional 172 shares during the last quarter. First Mercantile Trust Co. lifted its stake in shares of Dover Corporation by 10.1% in the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 213 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Dover Corporation in the 1st quarter valued at about $200,000. 86.06% of the stock is owned by institutional investors.
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DOV has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, July 21st. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. BMO Capital Markets raised Dover Corporation from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $89.00 to $82.00 in a research note on Thursday, June 8th. Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a research note on Tuesday, May 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $89.08.
In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction that occurred 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 sale, the director now owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.
Dover Corporation (DOV) opened at 87.735 on Monday. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $88.00. The stock has a market cap of $13.66 billion, a P/E ratio of 21.934 and a beta of 1.26. The firm’s 50 day moving average price is $84.94 and its 200-day moving average price is $81.73.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. Equities research analysts anticipate that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is currently 47.12%.
Dover Corporation 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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