Nationwide Fund Advisors grew its position in Dover Corporation (NYSE:DOV) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,006 shares of the industrial products company’s stock after acquiring an additional 15,668 shares during the quarter. Nationwide Fund Advisors owned approximately 0.11% of Dover Corporation worth $13,477,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. IFP Advisors Inc increased its holdings in shares of Dover Corporation by 15.1% in the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 227 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Dover Corporation by 5,446.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 1,743 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Dover Corporation by 9.5% in the 1st quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock valued at $158,000 after acquiring an additional 172 shares during the last quarter. First Mercantile Trust Co. increased its holdings in shares of Dover Corporation by 10.1% in the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 213 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Dover Corporation in the 1st quarter valued at approximately $200,000. Institutional investors and hedge funds own 86.01% of the company’s stock.
Dover Corporation (NYSE:DOV) opened at 92.43 on Friday. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $92.55. The firm’s 50-day moving average price is $86.06 and its 200-day moving average price is $82.19. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 23.11 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the firm posted $0.76 EPS. Dover Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.03%. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, August 29th. Dover Corporation’s dividend payout ratio (DPR) is currently 47.12%.
A number of brokerages have recently weighed in on DOV. BidaskClub upgraded Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $90.00 price target (up from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. Stifel Nicolaus boosted their price target on Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $91.15.
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In related news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
Dover Corporation Company 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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