Meag Munich Ergo Kapitalanlagegesellschaft MBH continued to hold its position in shares of Dover Corp. (NYSE:DOV) during the second quarter, Holdings Channel reports. The fund owned 171,223 shares of the company’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Dover Corp. were worth $11,869,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Trust Department MB Financial Bank N A increased its position in shares of 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 valued at $180,000 after buying an additional 1,030 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Dover Corp. during the first quarter valued at about $217,000. ING Groep NV purchased a new position in shares of Dover Corp. during the first quarter valued at about $227,000. Eagle Ridge Investment Management purchased a new position in shares of Dover Corp. during the second quarter valued at about $263,000. Finally, JFS Wealth Advisors LLC purchased a new position in shares of Dover Corp. during the second quarter valued at about $263,000. Hedge funds and other institutional investors own 85.56% of the company’s stock.
Dover Corp. (NYSE:DOV) traded up 2.78% during trading on Wednesday, reaching $69.42. 2,221,005 shares of the company traded hands. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90. The company has a market capitalization of $10.78 billion, a P/E ratio of 19.97 and a beta of 1.25. The firm has a 50-day moving average price of $70.29 and a 200-day moving average price of $69.26.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The business earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $1.14 EPS. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. Analysts forecast that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. Barclays PLC upped their target price on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Zacks Investment Research downgraded shares of Dover Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. Citigroup Inc. lowered their price objective on shares of Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 11th. Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Finally, Bank of America Corp. restated a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a research report on Thursday, October 6th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $72.19.
In other Dover Corp. news, CEO Robert Livingston sold 25,927 shares of Dover Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction 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 approximately $13,337,701.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Dover Corp. Company Profile
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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