Butensky & Cohen Financial Security Inc. grew its holdings in shares of Dover Corp (NYSE:DOV) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,187 shares of the industrial products company’s stock after buying an additional 1,550 shares during the quarter. Butensky & Cohen Financial Security Inc.’s holdings in Dover were worth $1,787,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Trail Advisors LLC grew its holdings in shares of Dover by 4,425.8% during the first quarter. Summit Trail Advisors LLC now owns 106,446 shares of the industrial products company’s stock valued at $106,000 after buying an additional 104,094 shares during the last quarter. Fort L.P. acquired a new position in shares of Dover during the second quarter valued at about $118,000. Winthrop Partners WNY LLC acquired a new position in shares of Dover during the first quarter valued at about $126,000. Centaurus Financial Inc. acquired a new position in shares of Dover during the second quarter valued at about $127,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Dover during the second quarter valued at about $133,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.
A number of brokerages have recently issued reports on DOV. ValuEngine upgraded shares of Dover from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Stifel Nicolaus lifted their price objective on shares of Dover from $85.00 to $92.00 and gave the company a “hold” rating in a report on Wednesday, September 12th. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Thursday. Gordon Haskett began coverage on shares of Dover in a report on Friday. They set a “buy” rating for the company. Finally, Citigroup lifted their price objective on shares of Dover from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 20th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Dover has a consensus rating of “Hold” and an average target price of $90.77.
In other news, Director Kristiane C. Graham sold 50,000 shares of Dover stock in a transaction dated Monday, August 6th. The shares were 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 $30,396,061. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.
Shares of DOV traded up $0.84 during trading hours on Friday, hitting $82.18. The company’s stock had a trading volume of 176,788 shares, compared to its average volume of 1,710,408. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.53 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 1.05. Dover Corp has a 52-week low of $70.12 and a 52-week high of $90.26.
Dover (NYSE:DOV) last posted its earnings results on Thursday, July 19th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.09. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. Dover had a net margin of 9.64% and a return on equity of 18.66%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. On average, sell-side analysts expect that Dover Corp will post 4.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were paid a $0.48 dividend. This is an increase from Dover’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, August 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.34%. Dover’s dividend payout ratio (DPR) is presently 47.64%.
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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