Huntington National Bank Has $6,136,000 Position in Dover Corp. (DOV)
Huntington National Bank maintained its stake in Dover Corp. (NYSE:DOV) during the second quarter, Holdings Channel reports. The firm owned 88,777 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Dover Corp. were worth $6,136,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of Dover Corp. by 0.9% in the first quarter. Franklin Resources Inc. now owns 6,692,483 shares of the company’s stock valued at $430,527,000 after buying an additional 56,874 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Dover Corp. by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,002,956 shares of the company’s stock valued at $257,510,000 after buying an additional 16,700 shares during the period. Bank of Montreal Can purchased a new stake in shares of Dover Corp. during the second quarter valued at about $116,346,000. Geode Capital Management LLC boosted its stake in shares of Dover Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,269,848 shares of the company’s stock valued at $81,526,000 after buying an additional 23,865 shares during the period. Finally, Norges Bank purchased a new stake in shares of Dover Corp. during the fourth quarter valued at about $67,048,000. 85.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dover Corp. (NYSE:DOV) traded up 0.44% during trading on Tuesday, reaching $68.98. 1,047,045 shares of the company were exchanged. The firm has a 50-day moving average price of $72.11 and a 200-day moving average price of $68.41. The stock has a market capitalization of $10.71 billion, a P/E ratio of 19.84 and a beta of 1.37. Dover Corp. has a 1-year low of $50.91 and a 1-year high of $74.90.
Dover Corp. (NYSE:DOV) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. The business earned $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Equities research analysts predict that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a $0.44 dividend. This is an increase from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.55%. Dover Corp.’s dividend payout ratio is presently 50.29%.
Several equities research analysts have recently issued reports on the company. TheStreet raised Dover Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, May 24th. Bank of America Corp. raised Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Thursday, May 26th. Zacks Investment Research cut Dover Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Dover Corp. in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $71.00.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total value of $104,256.40. Following the completion of the sale, the vice president now owns 40,326 shares in the company, valued at approximately $2,960,734.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert Livingston sold 25,927 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the completion of the sale, the chief executive officer now owns 192,630 shares of the company’s stock, valued at approximately $13,337,701.20. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
Dover Corp. Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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