Bayesian Capital Management LP Purchases Shares of 4,112 Dover Corporation (DOV)
Bayesian Capital Management LP purchased a new stake in shares of Dover Corporation (NYSE:DOV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,112 shares of the industrial products company’s stock, valued at approximately $330,000.
Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of Dover Corporation by 15.1% during the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 227 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Dover Corporation by 5,446.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,743 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Dover Corporation by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after buying an additional 258 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in shares of Dover Corporation by 10.1% in the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares during the last quarter. Finally, Harfst & Associates Inc. purchased a new position in shares of Dover Corporation in the first quarter worth approximately $200,000. Institutional investors and hedge funds own 86.01% of the company’s stock.
Dover Corporation (NYSE:DOV) opened at 91.39 on Monday. The company’s 50-day moving average is $86.06 and its 200 day moving average is $82.19. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $92.74. The stock has a market capitalization of $14.23 billion, a PE ratio of 22.85 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a $0.47 dividend. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.06%. Dover Corporation’s dividend payout ratio (DPR) is 47.12%.
Several research firms have weighed in on DOV. J P Morgan Chase & Co upgraded shares of Dover Corporation from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $105.00 in a research report on Wednesday, September 20th. Morgan Stanley boosted their price objective on shares of Dover Corporation from $95.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, September 19th. Seaport Global Securities restated a “neutral” rating on shares of Dover Corporation in a research note on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and issued a $95.00 price objective on shares of Dover Corporation in a research note on Tuesday, September 12th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $91.00 target price on shares of Dover Corporation in a report on Wednesday, September 6th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $91.15.
In other news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by company insiders.
Dover Corporation Profile
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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