AMP Capital Investors Ltd increased its position in Dover Corp (NYSE:DOV) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,345 shares of the industrial products company’s stock after purchasing an additional 3,700 shares during the period. AMP Capital Investors Ltd owned 0.07% of Dover worth $7,564,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DOV. Boston Partners grew its stake in Dover by 110.3% in the second quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock worth $375,601,000 after purchasing an additional 2,691,480 shares during the period. Ceredex Value Advisors LLC purchased a new stake in Dover in the first quarter worth $45,125,000. Cornerstone Wealth Management LLC grew its stake in Dover by 7,946.7% in the second quarter. Cornerstone Wealth Management LLC now owns 319,697 shares of the industrial products company’s stock worth $4,384,000 after purchasing an additional 315,724 shares during the period. KBC Group NV grew its stake in Dover by 957.2% in the second quarter. KBC Group NV now owns 297,229 shares of the industrial products company’s stock worth $21,757,000 after purchasing an additional 269,113 shares during the period. Finally, Lodge Hill Capital LLC purchased a new stake in Dover in the second quarter worth $17,348,000. 90.92% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on DOV shares. ValuEngine raised Dover from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. MED initiated coverage on Dover in a research note on Thursday, July 12th. They issued a “hold” rating and a $79.00 target price on the stock. Barclays cut their target price on Dover from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Zacks Investment Research raised Dover from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Morgan Stanley cut their target price on Dover from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, July 20th. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Dover presently has an average rating of “Hold” and a consensus target price of $92.77.
NYSE DOV opened at $88.00 on Friday. Dover Corp has a 12 month low of $70.12 and a 12 month high of $88.71. The firm has a market capitalization of $12.89 billion, a PE ratio of 21.84, a P/E/G ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.35.
Dover (NYSE:DOV) last released its earnings results on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.09. The firm had revenue of $1.80 billion for 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 period in the prior year, the firm posted $1.04 earnings per share. equities analysts anticipate that Dover Corp will post 4.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.48 per share. This is an increase from Dover’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, August 30th. Dover’s dividend payout ratio is presently 47.64%.
In other news, Director Kristiane C. Graham sold 50,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the transaction, the director now directly owns 367,324 shares of the company’s stock, valued at $30,396,061. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.
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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