Tower Research Capital LLC TRC bought a new stake in shares of Dover Corp. (NYSE:DOV) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,057 shares of the company’s stock, valued at approximately $143,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Dover Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 14,555,176 shares of the company’s stock valued at $1,008,965,000 after buying an additional 393,727 shares during the last quarter. Pzena Investment Management LLC raised its position in Dover Corp. by 1.0% in the second quarter. Pzena Investment Management LLC now owns 6,194,201 shares of the company’s stock valued at $429,382,000 after buying an additional 59,245 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Dover Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,002,956 shares of the company’s stock valued at $257,510,000 after buying an additional 16,700 shares during the last quarter. Bank of New York Mellon Corp raised its position in Dover Corp. by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 3,272,919 shares of the company’s stock valued at $226,877,000 after buying an additional 580,562 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Dover Corp. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,823,852 shares of the company’s stock valued at $126,411,000 after buying an additional 220,131 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
Shares of Dover Corp. (NYSE:DOV) opened at 72.24 on Friday. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90. The firm’s 50-day moving average price is $71.63 and its 200 day moving average price is $69.10. The firm has a market cap of $11.21 billion, a PE ratio of 20.78 and a beta of 1.25.
Dover Corp. (NYSE:DOV) last posted its earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Equities analysts anticipate that Dover Corp. will post $3.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.44%. This is an increase from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, August 29th. Dover Corp.’s dividend payout ratio is presently 50.29%.
DOV has been the subject of several analyst reports. Zacks Investment Research lowered Dover Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Susquehanna initiated coverage on Dover Corp. in a research note on Friday. They issued a “neutral” rating and a $77.00 target price for the company. Bank of America Corp. reiterated a “buy” rating and issued a $85.00 target price on shares of Dover Corp. in a research note on Thursday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. Finally, Barclays PLC upped their target price on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $72.63.
In other news, VP C. Anderson Fincher sold 1,420 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total value of $104,256.40. Following the sale, the vice president now directly owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Livingston sold 25,927 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total value of $1,795,185.48. Following the completion of the sale, the chief executive officer now directly owns 192,630 shares in the company, valued at $13,337,701.20. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
About Dover Corp.
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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