AMP Capital Investors Ltd Lowers Holdings in Dover Corp (DOV)

AMP Capital Investors Ltd decreased its holdings in shares of Dover Corp (NYSE:DOV) by 17.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,075 shares of the industrial products company’s stock after selling 18,270 shares during the period. AMP Capital Investors Ltd owned approximately 0.06% of Dover worth $7,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Dover in the second quarter valued at about $742,000. Rhumbline Advisers raised its holdings in shares of Dover by 6.7% in the second quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock valued at $23,207,000 after purchasing an additional 19,824 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Dover by 63.7% in the third quarter. Synovus Financial Corp now owns 4,951 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 1,927 shares during the last quarter. Global X Management Co LLC raised its holdings in shares of Dover by 71.5% in the second quarter. Global X Management Co LLC now owns 7,673 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 3,199 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in shares of Dover by 33.5% in the second quarter. Riverhead Capital Management LLC now owns 5,622 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 1,410 shares during the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.

DOV opened at $79.50 on Friday. The stock has a market cap of $12.22 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.44 and a beta of 1.34. 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 Corp has a fifty-two week low of $70.12 and a fifty-two week high of $90.26.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.07. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Dover had a net margin of 9.69% and a return on equity of 21.22%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Analysts predict that Dover Corp will post 4.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.92 annualized dividend and a yield of 2.42%. Dover’s payout ratio is currently 47.64%.

DOV has been the subject of several analyst reports. Gordon Haskett initiated coverage on shares of Dover in a report on Friday, October 12th. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Tuesday, September 11th. Barclays increased their target price on shares of Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, October 19th. Finally, SunTrust Banks increased their price target on shares of Dover to $91.00 and gave the company a “hold” rating in a research report on Friday, October 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $89.77.

In related news, Director Mary A. Winston sold 2,000 shares of the stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total transaction of $164,580.00. Following the completion of the transaction, the director now owns 13,055 shares in the company, valued at $1,074,295.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.50% of the stock is currently owned by corporate insiders.

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About Dover

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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