Earnest Partners LLC lessened its stake in shares of Dover Corp (NYSE:DOV) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,968 shares of the industrial products company’s stock after selling 1,956 shares during the quarter. Earnest Partners LLC owned about 0.15% of Dover worth $23,729,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in DOV. Nationwide Fund Advisors boosted its position in shares of Dover by 3.0% during the 3rd quarter. Nationwide Fund Advisors now owns 172,993 shares of the industrial products company’s stock worth $15,810,000 after purchasing an additional 4,987 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Dover by 21.7% during the 3rd quarter. Victory Capital Management Inc. now owns 25,466 shares of the industrial products company’s stock worth $2,327,000 after purchasing an additional 4,534 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Dover by 0.4% during the 3rd quarter. Prudential Financial Inc. now owns 227,170 shares of the industrial products company’s stock worth $20,761,000 after purchasing an additional 806 shares in the last quarter. Swiss National Bank boosted its position in shares of Dover by 1.1% during the 3rd quarter. Swiss National Bank now owns 573,417 shares of the industrial products company’s stock worth $52,405,000 after purchasing an additional 6,200 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Dover by 2.6% during the 3rd quarter. New York State Common Retirement Fund now owns 410,600 shares of the industrial products company’s stock worth $37,525,000 after purchasing an additional 10,300 shares in the last quarter. 88.32% of the stock is currently owned by institutional investors.
Shares of Dover Corp (NYSE:DOV) opened at $100.62 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01. Dover Corp has a fifty-two week low of $75.97 and a fifty-two week high of $109.06. The firm has a market cap of $15,674.08, a PE ratio of 25.19, a P/E/G ratio of 1.33 and a beta of 1.28.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 annualized dividend and a yield of 1.87%. Dover’s dividend payout ratio (DPR) is 36.50%.
A number of equities analysts have recently issued reports on the stock. SunTrust Banks increased their price objective on shares of Dover to $106.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. UBS Group assumed coverage on shares of Dover in a research report on Monday, January 22nd. They set a “neutral” rating on the stock. Seaport Global Securities reissued a “hold” rating and set a $110.00 price objective on shares of Dover in a research report on Friday, February 2nd. BMO Capital Markets upped their target price on shares of Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Morgan Stanley upped their target price on shares of Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $107.83.
In other Dover news, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total value of $1,601,761.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patrick Burns acquired 510 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average price of $97.51 per share, with a total value of $49,730.10. Following the purchase, the senior vice president now owns 1,883 shares in the company, valued at approximately $183,611.33. The disclosure for this purchase can be found here. In the last quarter, insiders sold 19,897 shares of company stock valued at $2,031,745. Company insiders own 2.50% of the company’s stock.
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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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