Dover Corporation (DOV) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Dover Corporation (NYSE:DOV) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,660 shares of the industrial products company’s stock after acquiring an additional 1,095 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Dover were worth $1,157,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Dover by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock worth $1,327,596,000 after purchasing an additional 370,572 shares during the period. BlackRock Inc. increased its holdings in shares of Dover by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after purchasing an additional 389,449 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Dover by 17.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock worth $531,702,000 after purchasing an additional 848,098 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Dover by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock worth $513,046,000 after purchasing an additional 14,504 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Dover by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 3,132,315 shares of the industrial products company’s stock worth $251,274,000 after purchasing an additional 154,678 shares during the period. 84.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Dover Corporation (DOV) opened at $97.54 on Tuesday. The firm has a market cap of $15,200.00, a PE ratio of 26.84, a P/E/G ratio of 1.89 and a beta of 1.29. Dover Corporation has a 52 week low of $73.61 and a 52 week high of $98.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.87.
Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. equities analysts expect that Dover Corporation will post 3.94 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.47 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.88 annualized dividend and a yield of 1.93%. Dover’s dividend payout ratio is 43.72%.
Several research analysts have recently issued reports on DOV shares. Robert W. Baird set a $91.00 price objective on shares of Dover and gave the stock a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and set a $94.00 price objective on shares of Dover in a report on Sunday, August 27th. SunTrust Banks restated a “hold” rating and set a $90.00 price objective on shares of Dover in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, Citigroup restated a “neutral” rating and set a $96.00 price objective (up previously from $90.00) on shares of Dover in a report on Monday, October 9th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Dover has a consensus rating of “Hold” and an average price target of $94.69.
In other Dover news, SVP Stephen Gary Kennon sold 2,359 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $94.40, for a total transaction of $222,689.60. Following the sale, the senior vice president now directly owns 5,192 shares of the company’s stock, valued at $490,124.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Stubbs sold 41,505 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the sale, the director now directly owns 275,344 shares in the company, valued at $26,342,160.48. The disclosure for this sale can be found here. Insiders have sold 65,276 shares of company stock worth $6,234,042 over the last ninety days. Insiders own 2.50% of the company’s stock.
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Dover 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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