Veritable L.P. raised its holdings in shares of Dover Corporation (NYSE:DOV) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,044 shares of the industrial products company’s stock after purchasing an additional 43 shares during the period. Veritable L.P.’s holdings in Dover Corporation were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Dover Corporation by 1,664.3% in the 1st quarter. BlackRock Inc. now owns 9,924,852 shares of the industrial products company’s stock valued at $797,462,000 after acquiring an additional 9,362,330 shares during the period. Bessemer Group Inc. raised its position in shares of Dover Corporation by 108.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,598,035 shares of the industrial products company’s stock valued at $128,193,000 after acquiring an additional 830,946 shares during the period. Vanguard Group Inc. raised its position in shares of Dover Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 16,178,861 shares of the industrial products company’s stock valued at $1,299,971,000 after acquiring an additional 792,862 shares during the period. Bank of America Corp DE raised its position in shares of Dover Corporation by 9.4% in the 1st quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock valued at $517,953,000 after acquiring an additional 553,136 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Dover Corporation by 22.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,951,213 shares of the industrial products company’s stock valued at $236,747,000 after acquiring an additional 539,703 shares during the period. Institutional investors own 86.01% of the company’s stock.

Shares of Dover Corporation (NYSE DOV) opened at 93.69 on Thursday. The firm has a market cap of $14.59 billion, a P/E ratio of 23.42 and a beta of 1.27. The firm’s 50-day moving average price is $88.10 and its 200 day moving average price is $83.26. Dover Corporation has a one year low of $65.50 and a one year high of $93.92.

Dover Corporation (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. Analysts predict that Dover Corporation will post $4.29 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.47 per share. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.01%. Dover Corporation’s dividend payout ratio is presently 47.12%.

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In other news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the transaction, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on DOV shares. Stifel Nicolaus increased their price target on shares of Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a research report on Friday, July 21st. BidaskClub downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $91.00 price target on shares of Dover Corporation in a research report on Wednesday, September 6th. BMO Capital Markets upgraded shares of Dover Corporation from a “market perform” rating to an “outperform” rating and cut their price target for the company from $89.00 to $82.00 in a research report on Thursday, June 8th. Finally, Zacks Investment Research upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $91.85.

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.

Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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