Cigna Investments Inc. New Has $483,000 Stake in Dover Corporation (DOV)
Cigna Investments Inc. New decreased its stake in Dover Corporation (NYSE:DOV) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 6,021 shares of the industrial products company’s stock after selling 259 shares during the period. Cigna Investments Inc. New’s holdings in Dover Corporation were worth $483,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock valued at $292,000 after buying an additional 100 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Dover Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 48,908 shares of the industrial products company’s stock valued at $3,929,000 after buying an additional 800 shares during the last quarter. National Pension Service boosted its stake in shares of Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock valued at $11,688,000 after buying an additional 1,220 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Dover Corporation during the first quarter valued at $635,000. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Dover Corporation by 2.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 81,798 shares of the industrial products company’s stock valued at $6,572,000 after buying an additional 1,939 shares during the last quarter. 85.73% of the stock is currently owned by institutional investors.
Dover Corporation (DOV) opened at 85.13 on Wednesday. The firm’s 50 day moving average price is $83.75 and its 200 day moving average price is $81.02. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 21.28 and a beta of 1.27. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $87.63.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. On average, equities research analysts predict that Dover Corporation will post $4.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio (DPR) is 44.11%.
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Several equities research analysts have weighed in on DOV shares. Barclays PLC boosted their price objective on Dover Corporation from $78.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Stifel Nicolaus boosted their price objective on Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, April 21st. Edward Jones cut Dover Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 22nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $89.00 price objective (up from $86.00) on shares of Dover Corporation in a research note on Sunday, April 23rd. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a research note on Tuesday, May 23rd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.73.
In related news, Director Michael B. Stubbs sold 40,000 shares of Dover Corporation stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $83.22, for a total value of $3,328,800.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at approximately $22,914,127.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction that occurred on 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 approximately $23,965,941.76. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Dover Corporation Company 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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