Dover Corporation (DOV) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan decreased its position in shares of Dover Corporation (NYSE:DOV) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,990 shares of the industrial products company’s stock after selling 920 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Dover Corporation were worth $1,004,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in DOV. IFP Advisors Inc lifted its stake 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 buying an additional 227 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake 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 buying an additional 1,347 shares in the last quarter. Penserra Capital Management LLC lifted its stake 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 buying an additional 258 shares in the last quarter. First Mercantile Trust Co. lifted its stake 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 buying an additional 213 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in Dover Corporation in the 3rd quarter valued at approximately $201,000. 85.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dover Corporation (NYSE:DOV) traded down $0.08 on Friday, reaching $94.71. The company’s stock had a trading volume of 641,800 shares, compared to its average volume of 1,230,754. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.32 and a quick ratio of 0.87. The firm has a market cap of $14,754.98, a P/E ratio of 26.24, a PEG ratio of 1.85 and a beta of 1.28. Dover Corporation has a 52 week low of $68.10 and a 52 week high of $97.09.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. Dover Corporation’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. research analysts anticipate that Dover Corporation will post 3.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 annualized dividend and a yield of 1.99%. Dover Corporation’s dividend payout ratio (DPR) is presently 43.72%.
In other Dover Corporation news, Director Michael B. Stubbs sold 8,495 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.30, for a total value of $818,068.50. Following the completion of the transaction, the director now directly owns 275,344 shares in the company, valued at approximately $26,515,627.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The disclosure for this sale can be found here. Insiders sold a total of 65,276 shares of company stock valued at $6,234,042 over the last quarter. 2.50% of the stock is currently owned by insiders.
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DOV has been the topic of a number of recent research reports. J P Morgan Chase & Co raised Dover Corporation from a “neutral” rating to an “overweight” rating and upped their target price for the company from $80.00 to $105.00 in a research note on Wednesday, September 20th. Morgan Stanley upped their target price on Dover Corporation from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, September 19th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $90.00 target price on shares of Dover Corporation in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $95.00 target price on shares of Dover Corporation in a research note on Tuesday, September 12th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $92.00 target price on shares of Dover Corporation in a research note on Tuesday, October 17th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $94.69.
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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