Private Advisor Group LLC acquired a new position in Dover Corp. (NYSE:DOV) during the second quarter, Holdings Channel reports. The fund acquired 3,144 shares of the company’s stock, valued at approximately $211,000.
Several other institutional investors have also recently bought and sold shares of DOV. Dubuque Bank & Trust Co. boosted its position in Dover Corp. by 1,302.8% in the first quarter. Dubuque Bank & Trust Co. now owns 2,034 shares of the company’s stock worth $131,000 after buying an additional 1,889 shares during the last quarter. Hallmark Capital Management Inc. purchased a new position in Dover Corp. during the second quarter worth about $149,000. Trust Department MB Financial Bank N A boosted its position in Dover Corp. by 67.0% in the second quarter. Trust Department MB Financial Bank N A now owns 2,567 shares of the company’s stock worth $180,000 after buying an additional 1,030 shares during the last quarter. Sheaff Brock Investment Advisors LLC purchased a new position in Dover Corp. during the second quarter worth about $203,000. Finally, Moors & Cabot Inc. boosted its position in Dover Corp. by 3.2% in the second quarter. Moors & Cabot Inc. now owns 3,229 shares of the company’s stock worth $225,000 after buying an additional 101 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 69.58 on Friday. The stock has a market cap of $10.80 billion, a P/E ratio of 20.01 and a beta of 1.37. Dover Corp. has a 1-year low of $50.91 and a 1-year high of $74.90. The company has a 50 day moving average price of $72.11 and a 200 day moving average price of $68.48.
Dover Corp. (NYSE:DOV) last released its quarterly 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 company earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. On average, 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 dividend yield of 2.53%. The ex-dividend date of this dividend was Monday, August 29th. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s payout ratio is 50.29%.
A number of equities research analysts have recently weighed in on DOV shares. Zacks Investment Research lowered Dover Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Sanford C. Bernstein reissued an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Dover Corp. in a research note on Wednesday, June 8th. Citigroup Inc. boosted their target price on Dover Corp. from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, June 8th. Finally, Barclays PLC boosted 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $71.00.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the completion of the transaction, the chief executive officer now owns 192,630 shares in the company, valued at $13,337,701.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total transaction of $104,256.40. Following the sale, the vice president now directly owns 40,326 shares of the company’s stock, valued at approximately $2,960,734.92. 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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