Keybank National Association OH cut its holdings in shares of Dover Corp (NYSE:DOV) by 10.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,220 shares of the industrial products company’s stock after selling 5,194 shares during the period. Keybank National Association OH’s holdings in Dover were worth $4,303,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Horan Capital Advisors LLC. acquired a new position in shares of Dover during the third quarter worth approximately $25,000. Coastal Investment Advisors Inc. boosted its position in shares of Dover by 154.4% during the second quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock worth $26,000 after buying an additional 159 shares during the period. Shamrock Asset Management LLC acquired a new position in shares of Dover during the second quarter worth approximately $26,000. Krane Funds Advisors LLC acquired a new position in shares of Dover during the second quarter worth approximately $26,000. Finally, Sandy Spring Bank acquired a new position in shares of Dover during the third quarter worth approximately $26,000. Institutional investors and hedge funds own 86.21% of the company’s stock.
In other news, Director Kristiane C. Graham sold 1,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $109.57, for a total transaction of $109,570.00. Following the completion of the sale, the director now owns 356,704 shares in the company, valued at approximately $39,084,057.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristiane C. Graham sold 13,596 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $105.07, for a total value of $1,428,531.72. Following the sale, the director now owns 356,704 shares of the company’s stock, valued at approximately $37,478,889.28. The disclosure for this sale can be found here. Insiders have sold a total of 24,514 shares of company stock valued at $2,439,945 in the last quarter. Insiders own 1.70% of the company’s stock.
A number of research firms have weighed in on DOV. ValuEngine upgraded Dover from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on Dover from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Barclays upped their target price on Dover from $112.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Morgan Stanley upped their target price on Dover from $103.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Dover currently has an average rating of “Hold” and an average price target of $101.84.
DOV traded up $0.22 during trading on Friday, reaching $109.35. The stock had a trading volume of 580,927 shares, compared to its average volume of 971,273. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.63 and a beta of 1.49. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.96. Dover Corp has a 1-year low of $65.83 and a 1-year high of $110.81. The stock has a 50 day moving average of $100.68 and a two-hundred day moving average of $96.88.
Dover (NYSE:DOV) last released its earnings results on Thursday, October 17th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.09. Dover had a return on equity of 29.62% and a net margin of 9.08%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts forecast that Dover Corp will post 5.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.79%. Dover’s dividend payout ratio (DPR) is presently 39.44%.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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.
Featured Article: Dead Cat Bounce
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.