Ameriprise Financial Inc. Has $55.75 Million Position in Dover Corporation (DOV)
Ameriprise Financial Inc. increased its holdings in Dover Corporation (NYSE:DOV) by 24.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 609,998 shares of the industrial products company’s stock after acquiring an additional 121,645 shares during the period. Ameriprise Financial Inc. owned approximately 0.39% of Dover worth $55,747,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Dover by 2.3% during the second quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock worth $1,327,596,000 after purchasing an additional 370,572 shares in the last quarter. BlackRock Inc. lifted its stake in Dover by 3.9% during the second quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after purchasing an additional 389,449 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Dover by 0.3% during the third quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock worth $513,046,000 after purchasing an additional 14,504 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Dover by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after purchasing an additional 511,469 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Dover by 5.2% during the second quarter. Wells Fargo & Company MN now owns 3,132,315 shares of the industrial products company’s stock worth $251,274,000 after purchasing an additional 154,678 shares in the last quarter. Institutional investors own 84.60% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. SunTrust Banks restated a “hold” rating and set a $96.00 price target on shares of Dover in a research note on Monday, October 23rd. Stifel Nicolaus restated a “hold” rating and set a $92.00 price target on shares of Dover in a research note on Tuesday, October 17th. Citigroup restated a “neutral” rating and set a $96.00 price target (up from $90.00) on shares of Dover in a research note on Monday, October 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $106.00 price target (up from $97.00) on shares of Dover in a research note on Monday, October 2nd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Dover presently has a consensus rating of “Hold” and a consensus target price of $94.69.
Shares of Dover Corporation (DOV) opened at $95.86 on Thursday. The stock has a market capitalization of $15,036.96, a price-to-earnings ratio of 26.74, a PEG ratio of 1.88 and a beta of 1.28. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70. Dover Corporation has a 52 week low of $68.10 and a 52 week high of $97.09.
Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.05. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Dover had a return on equity of 14.10% and a net margin of 8.91%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. analysts anticipate that Dover Corporation will post 3.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Wednesday, November 29th. Dover’s payout ratio is currently 43.72%.
In related news, SVP Stephen Gary Kennon sold 2,359 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $94.40, for a total value of $222,689.60. Following the transaction, the senior vice president now owns 5,192 shares of the company’s stock, valued at $490,124.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Stubbs sold 41,505 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $26,342,160.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,276 shares of company stock worth $6,234,042. Insiders own 2.50% of the company’s stock.
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Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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