Dimensional Fund Advisors LP increased its holdings in shares of Dover Corp (NYSE:DOV) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,797,978 shares of the industrial products company’s stock after purchasing an additional 2,516 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.22% of Dover worth $131,608,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Dover during the second quarter worth about $742,000. Duncker Streett & Co. Inc. grew its position in shares of Dover by 22.3% during the second quarter. Duncker Streett & Co. Inc. now owns 26,110 shares of the industrial products company’s stock worth $1,911,000 after purchasing an additional 4,762 shares in the last quarter. Rhumbline Advisers grew its position in shares of Dover by 6.7% during the second quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock worth $23,207,000 after purchasing an additional 19,824 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Dover by 6.6% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,717 shares of the industrial products company’s stock worth $5,767,000 after purchasing an additional 3,616 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Dover by 20.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 529,139 shares of the industrial products company’s stock valued at $51,972,000 after buying an additional 91,602 shares in the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Several equities analysts have weighed in on DOV shares. Seaport Global Securities restated a “hold” rating and set a $80.00 price target on shares of Dover in a report on Friday, July 20th. Oppenheimer restated a “hold” rating on shares of Dover in a report on Thursday, July 19th. Zacks Investment Research upgraded Dover from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 17th. Deutsche Bank set a $79.00 price target on Dover and gave the company a “hold” rating in a report on Thursday, July 12th. Finally, MED started coverage on Dover in a report on Thursday, July 12th. They set a “hold” rating and a $79.00 price target for the company. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $92.14.
NYSE DOV opened at $86.90 on Thursday. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.48 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.35 and a quick ratio of 0.93. Dover Corp has a 1-year low of $68.91 and a 1-year high of $88.11.
Dover (NYSE:DOV) last announced its earnings results on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.09. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Dover had a return on equity of 18.66% and a net margin of 9.64%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. research analysts forecast that Dover Corp will post 4.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a $0.48 dividend. This is a boost from Dover’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.21%. Dover’s payout ratio is 47.64%.
In other news, Director Kristiane C. Graham sold 50,000 shares of Dover stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $82.75, for a total value of $4,137,500.00. Following the completion of the transaction, the director now owns 367,324 shares in the company, valued at approximately $30,396,061. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 20,000 shares of Dover stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $75.83, for a total value of $1,516,600.00. Following the completion of the transaction, the chief financial officer now owns 61,801 shares of the company’s stock, valued at approximately $4,686,369.83. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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