Candriam Luxembourg S.C.A. increased its stake in Dover Corporation (NYSE:DOV) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 14,928 shares of the industrial products company’s stock after buying an additional 723 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Dover Corporation were worth $1,198,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its stake in shares of Dover Corporation by 1.8% in the second quarter. Stratos Wealth Partners LTD. now owns 18,474 shares of the industrial products company’s stock valued at $1,482,000 after buying an additional 321 shares during the period. Benedict Financial Advisors Inc. increased its stake in shares of Dover Corporation by 0.5% in the second quarter. Benedict Financial Advisors Inc. now owns 24,920 shares of the industrial products company’s stock valued at $2,065,000 after buying an additional 121 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Dover Corporation by 44.0% in the second quarter. Daiwa Securities Group Inc. now owns 175,050 shares of the industrial products company’s stock valued at $14,043,000 after buying an additional 53,500 shares during the period. Bessemer Group Inc. increased its stake in shares of Dover Corporation by 108.3% in the second quarter. Bessemer Group Inc. now owns 1,598,035 shares of the industrial products company’s stock valued at $128,193,000 after buying an additional 830,946 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Dover Corporation by 0.4% in the second quarter. CIBC Asset Management Inc now owns 14,710 shares of the industrial products company’s stock valued at $1,180,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Dover Corporation (NYSE:DOV) opened at 85.05 on Friday. The company has a 50-day moving average of $83.36 and a 200-day moving average of $80.94. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $87.63. The company has a market capitalization of $13.25 billion, a PE ratio of 21.26 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $0.76 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities research analysts anticipate that Dover Corporation will post $4.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.47 dividend. The ex-dividend date is Tuesday, August 29th. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 2.21%. Dover Corporation’s dividend payout ratio is currently 44.11%.

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Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Citigroup Inc. lifted their price target on shares of Dover Corporation from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Stifel Nicolaus lifted their price target on shares of Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $90.00 price target (up from $89.00) on shares of Dover Corporation in a research report on Thursday, July 6th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $87.73.

In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $87.04, for a total value of $2,176,000.00. Following the sale, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 40,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $22,914,127.68. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

About Dover Corporation

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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Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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