Bartlett & Co. LLC continued to hold its stake in Dover Corp. (NYSE:DOV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,466 shares of the company’s stock at the end of the second quarter. Bartlett & Co. LLC’s holdings in Dover Corp. were worth $310,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Dover Corp. during the fourth quarter worth about $67,048,000. Aperio Group LLC raised its stake in shares of Dover Corp. by 1.0% in the first quarter. Aperio Group LLC now owns 91,207 shares of the company’s stock valued at $5,867,000 after buying an additional 909 shares in the last quarter. Pacad Investment Ltd. raised its stake in shares of Dover Corp. by 26.1% in the first quarter. Pacad Investment Ltd. now owns 20,432 shares of the company’s stock valued at $1,314,000 after buying an additional 4,232 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of Dover Corp. by 1,302.8% in the first quarter. Dubuque Bank & Trust Co. now owns 2,034 shares of the company’s stock valued at $131,000 after buying an additional 1,889 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Dover Corp. by 23.7% in the first quarter. TIAA CREF Investment Management LLC now owns 1,002,330 shares of the company’s stock valued at $64,480,000 after buying an additional 192,213 shares in the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.
Dover Corp. (NYSE:DOV) traded up 0.56% during midday trading on Thursday, reaching $71.87. The company had a trading volume of 1,345,614 shares. The stock has a 50-day moving average price of $71.79 and a 200 day moving average price of $68.72. Dover Corp. has a 12-month low of $50.91 and a 12-month high of $74.90. The company has a market capitalization of $11.16 billion, a PE ratio of 20.67 and a beta of 1.37.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The business earned $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts forecast that Dover Corp. will post $3.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.44 dividend. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, August 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.45%. Dover Corp.’s dividend payout ratio (DPR) is presently 50.29%.
DOV has been the topic of several recent analyst reports. Zacks Investment Research lowered Dover Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Robert W. Baird raised Dover Corp. from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $66.00 to $86.00 in a research note on Wednesday, June 8th. Barclays PLC boosted their price target 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. Sanford C. Bernstein raised Dover Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $75.00 to $87.00 in a research note on Friday, June 10th. Finally, Citigroup Inc. boosted their price target on Dover Corp. from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $71.00.
In other news, VP William Spurgeon sold 17,170 shares of Dover Corp. stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $71.65, for a total value of $1,230,230.50. Following the transaction, the vice president now owns 59,163 shares in the company, valued at approximately $4,239,028.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP C. Anderson Fincher sold 1,420 shares of Dover Corp. stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total value of $104,256.40. Following the completion of the transaction, the vice president now owns 40,326 shares in the company, valued at approximately $2,960,734.92. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
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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