Wellington Shields Capital Management LLC purchased a new stake in shares of Dover Corp (NYSE:DOV) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,300 shares of the industrial products company’s stock, valued at approximately $204,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. raised its holdings in Dover by 10.0% in the second quarter. Baird Financial Group Inc. now owns 6,905 shares of the industrial products company’s stock worth $505,000 after buying an additional 629 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Dover by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 67,485 shares of the industrial products company’s stock worth $4,940,000 after buying an additional 685 shares during the last quarter. BB&T Securities LLC raised its holdings in Dover by 7.3% in the second quarter. BB&T Securities LLC now owns 10,094 shares of the industrial products company’s stock worth $738,000 after buying an additional 689 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Dover by 5.4% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 13,495 shares of the industrial products company’s stock worth $1,195,000 after buying an additional 693 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. raised its holdings in Dover by 4.1% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 18,637 shares of the industrial products company’s stock worth $1,364,000 after buying an additional 740 shares during the last quarter. 91.78% of the stock is owned by institutional investors.
In other news, Director Mary A. Winston sold 2,000 shares of Dover stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the sale, the director now directly owns 13,055 shares in the company, valued at $1,074,295.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.
Several brokerages have issued reports on DOV. ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, October 12th. UBS Group lifted their target price on shares of Dover from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, August 30th. Seaport Global Securities reaffirmed a “hold” rating and issued a $80.00 target price on shares of Dover in a report on Friday, July 20th. Finally, BMO Capital Markets cut shares of Dover from an “outperform” rating to a “market perform” rating and set a $90.00 target price for the company. in a report on Friday, September 7th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Dover presently has a consensus rating of “Hold” and an average target price of $89.77.
Shares of DOV stock opened at $86.42 on Friday. Dover Corp has a 52 week low of $70.12 and a 52 week high of $90.26. The company has a market capitalization of $12.71 billion, a PE ratio of 21.44, a P/E/G ratio of 1.49 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.30 and a quick ratio of 0.88.
Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.07. Dover had a net margin of 9.69% and a return on equity of 21.22%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts anticipate that Dover Corp will post 4.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.22%. Dover’s dividend payout ratio is presently 47.64%.
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Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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