NBT Bank N A NY Acquires New Position in Dover Corporation (DOV)
NBT Bank N A NY acquired a new stake in shares of Dover Corporation (NYSE:DOV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,211 shares of the industrial products company’s stock, valued at approximately $202,000.
A number of other hedge funds and other institutional investors have also modified their holdings of DOV. IFP Advisors Inc grew its stake in Dover Corporation by 15.1% during the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after purchasing an additional 227 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Dover Corporation by 388.2% during 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 purchasing an additional 1,347 shares in the last quarter. Penserra Capital Management LLC grew its stake in Dover Corporation by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 258 shares in the last quarter. First Mercantile Trust Co. grew its stake in Dover Corporation by 10.1% during the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 213 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank acquired a new position in shares of Dover Corporation in the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.
Dover Corporation (NYSE:DOV) traded up $1.09 during trading hours on Thursday, reaching $93.79. The company had a trading volume of 249,186 shares, compared to its average volume of 1,240,335. Dover Corporation has a twelve month low of $68.10 and a twelve month high of $97.09. The firm has a market cap of $14,570.00, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.83 and a beta of 1.28. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70.
Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion for 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%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. sell-side analysts forecast that Dover Corporation will post 3.94 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $1.88 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, November 29th. Dover Corporation’s payout ratio is currently 43.72%.
In other Dover Corporation news, Director Michael B. Stubbs sold 8,495 shares of Dover Corporation stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.30, for a total transaction of $818,068.50. Following the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $26,515,627.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael B. Stubbs sold 41,505 shares of Dover Corporation 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 sale, the director now directly owns 275,344 shares in the company, valued at approximately $26,342,160.48. The disclosure for this sale can be found here. Insiders have sold a total of 56,830 shares of company stock worth $5,435,157 in the last ninety days. 2.50% of the stock is owned by company insiders.
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DOV has been the subject of several research reports. Robert W. Baird reiterated a “buy” rating and issued a $95.00 target price on shares of Dover Corporation in a research report on Tuesday, September 12th. BMO Capital Markets reiterated a “buy” rating and issued a $94.00 target price on shares of Dover Corporation in a research report on Sunday, August 27th. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Tuesday, October 17th. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $91.00 target price on shares of Dover Corporation in a research report on Wednesday, September 6th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus 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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