Victory Capital Management Inc. raised its position in Dover Corporation (NYSE:DOV) by 17.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,932 shares of the industrial products company’s stock after purchasing an additional 3,060 shares during the quarter. Victory Capital Management Inc.’s holdings in Dover Corporation were worth $1,679,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Farmers National Bank raised its position in Dover Corporation by 0.3% in the 1st quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 10 shares during the period. Cleararc Capital Inc. raised its position in Dover Corporation by 0.4% in the 1st quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 15 shares during the period. Contravisory Investment Management Inc. raised its position in Dover Corporation by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 23 shares during the period. FineMark National Bank & Trust raised its position in Dover Corporation by 0.7% in the 2nd quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 23 shares during the period. Finally, Patten Group Inc. raised its position in Dover Corporation by 0.5% in the 1st quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 25 shares during the period. 86.06% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the stock. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $90.00 price objective (up from $89.00) on shares of Dover Corporation in a research report on Thursday, July 6th. CIBC reaffirmed a “hold” rating on shares of Dover Corporation in a research report on Wednesday, May 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $87.00 target price on shares of Dover Corporation in a research report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research report on Wednesday, June 7th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $89.08.
Dover Corporation (DOV) opened at 87.94 on Tuesday. The stock’s 50 day moving average is $85.00 and its 200-day moving average is $81.75. The company has a market capitalization of $13.70 billion, a P/E ratio of 21.99 and a beta of 1.26. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $88.34.
Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping 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 firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts expect that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The firm 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 an increase from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is presently 47.12%.
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In related news, Director Michael B. Stubbs sold 25,000 shares of the company’s 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 sale, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by corporate insiders.
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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