Dover Corporation (DOV) Holdings Boosted by Advisor Group Inc.
Advisor Group Inc. raised its position in Dover Corporation (NYSE:DOV) by 23.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,258 shares of the industrial products company’s stock after buying an additional 1,179 shares during the quarter. Advisor Group Inc.’s holdings in Dover Corporation were worth $500,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in DOV. UBS Asset Management Americas Inc. increased its holdings in Dover Corporation by 7.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 464,430 shares of the industrial products company’s stock valued at $37,317,000 after buying an additional 30,294 shares during the period. Oxford Asset Management bought a new position in Dover Corporation in the 1st quarter valued at about $491,000. Pacer Advisors Inc. increased its holdings in Dover Corporation by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,169 shares of the industrial products company’s stock valued at $255,000 after buying an additional 99 shares during the period. Nordea Investment Management AB increased its holdings in Dover Corporation by 1.3% in the 1st quarter. Nordea Investment Management AB now owns 7,794 shares of the industrial products company’s stock valued at $626,000 after buying an additional 99 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Dover Corporation by 17.8% in the 1st quarter. Victory Capital Management Inc. now owns 17,872 shares of the industrial products company’s stock valued at $1,436,000 after buying an additional 2,703 shares during the period. 86.01% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on DOV shares. Stifel Nicolaus raised their target price on shares of Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a report on Friday, July 21st. BidaskClub lowered shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $91.00 price target on shares of Dover Corporation in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Tuesday, July 18th. Finally, Robert W. Baird set a $91.00 price target on shares of Dover Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $93.08.
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 transaction of $2,176,000.00. Following the transaction, the director now directly owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.
Shares of Dover Corporation (DOV) opened at 94.07 on Friday. Dover Corporation has a one year low of $65.50 and a one year high of $94.09. The company’s 50 day moving average is $88.63 and its 200 day moving average is $83.44. The company has a market capitalization of $14.65 billion, a price-to-earnings ratio of 23.52 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The business had revenue of $1.99 billion for 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%. Dover Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. Equities research analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.47 per share. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Tuesday, August 29th. Dover Corporation’s dividend payout ratio (DPR) is presently 47.12%.
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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