Dover Corporation (DOV) Shares Sold by Cramer Rosenthal Mcglynn LLC
Cramer Rosenthal Mcglynn LLC cut its holdings in Dover Corporation (NYSE:DOV) by 8.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,641,135 shares of the industrial products company’s stock after selling 156,640 shares during the period. Dover makes up approximately 2.4% of Cramer Rosenthal Mcglynn LLC’s investment portfolio, making the stock its 2nd largest position. Cramer Rosenthal Mcglynn LLC owned about 1.05% of Dover worth $149,983,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in DOV. IFP Advisors Inc lifted its position in Dover by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 227 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in Dover by 388.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,347 shares during the period. Penserra Capital Management LLC lifted its position in Dover by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 258 shares during the period. First Mercantile Trust Co. lifted its position in Dover by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 213 shares during the period. Finally, Cape Cod Five Cents Savings Bank bought a new stake in Dover during the third quarter worth about $201,000. Institutional investors and hedge funds own 84.60% of the company’s stock.
Several equities research analysts recently weighed in 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 research report on Thursday, August 24th. BMO Capital Markets reaffirmed a “buy” rating and set a $94.00 price objective on shares of Dover in a research report on Sunday, August 27th. SunTrust Banks reaffirmed a “hold” rating and set a $90.00 price objective on shares of Dover in a research report on Thursday, October 12th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Citigroup reaffirmed a “neutral” rating and set a $96.00 price objective (up previously from $90.00) on shares of Dover in a research report on Monday, October 9th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $94.69.
Shares of Dover Corporation (NYSE DOV) traded down $0.83 during midday trading on Monday, reaching $96.88. 1,322,800 shares of the company were exchanged, compared to its average volume of 1,219,077. The company has a market cap of $15,093.04, a price-to-earnings ratio of 26.84, a PEG ratio of 1.89 and a beta of 1.29. Dover Corporation has a 1-year low of $73.61 and a 1-year high of $98.00. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70.
Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. Dover had a net margin of 8.91% and a return on equity of 14.10%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS. analysts predict that Dover Corporation will post 3.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.88 dividend on an annualized basis and a yield of 1.94%. Dover’s dividend payout ratio (DPR) is presently 43.72%.
In other Dover news, VP William T. Bosway sold 6,087 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the completion of the sale, the vice president now owns 21,877 shares of the company’s stock, valued at approximately $2,070,876.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 41,505 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were 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 of the company’s stock, valued at approximately $26,342,160.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,276 shares of company stock valued at $6,234,042. 2.50% of the stock is owned by company insiders.
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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