Dover Corporation (DOV) is Stillwater Investment Management L.P.’s 9th Largest Position
Stillwater Investment Management L.P. cut its stake in Dover Corporation (NYSE:DOV) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,656 shares of the industrial products company’s stock after selling 18,344 shares during the period. Dover Corporation makes up about 5.1% of Stillwater Investment Management L.P.’s portfolio, making the stock its 9th biggest holding. Stillwater Investment Management L.P. owned approximately 0.08% of Dover Corporation worth $12,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in Dover Corporation by 15.1% in the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 227 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Dover Corporation by 388.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 1,347 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Dover Corporation by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 258 shares in the last quarter. First Mercantile Trust Co. raised its holdings in Dover Corporation by 10.1% in the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 213 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank acquired a new position in Dover Corporation in the 3rd quarter valued at $201,000. 85.66% of the stock is owned by hedge funds and other institutional investors.
DOV has been the subject of several analyst reports. Robert W. Baird set a $91.00 price objective on Dover Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Dover Corporation in a report on Sunday, August 27th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Dover Corporation in a report on Thursday, October 12th. Zacks Investment Research cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $96.00 price objective (up from $90.00) on shares of Dover Corporation in a report on Monday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $94.69.
In related news, SVP Stephen Gary Kennon sold 2,359 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $94.40, for a total transaction of $222,689.60. Following the sale, the senior vice president now owns 5,192 shares in the company, valued at approximately $490,124.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul Goldberg sold 4,400 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $95.25, for a total value of $419,100.00. Following the sale, the vice president now owns 4,070 shares in the company, valued at approximately $387,667.50. The disclosure for this sale can be found here. Insiders have sold a total of 65,276 shares of company stock worth $6,234,042 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.
Shares of Dover Corporation (DOV) traded down $0.08 on Thursday, hitting $94.71. The stock had a trading volume of 641,800 shares, compared to its average volume of 1,230,754. Dover Corporation has a one year low of $68.10 and a one year high of $97.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32. The company has a market cap of $14,740.00, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 1.85 and a beta of 1.28.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the company posted $0.83 EPS. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. equities analysts expect that Dover Corporation will post 3.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.88 dividend on an annualized basis and a yield of 1.99%. Dover Corporation’s dividend payout ratio is currently 43.72%.
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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