Williams Jones & Associates LLC Sells 58,170 Shares of Dover Corporation (DOV)
Williams Jones & Associates LLC lowered its holdings in shares of Dover Corporation (NYSE:DOV) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,282,293 shares of the industrial products company’s stock after selling 58,170 shares during the period. Dover Corporation makes up about 2.6% of Williams Jones & Associates LLC’s holdings, making the stock its 4th biggest position. Williams Jones & Associates LLC owned 0.82% of Dover Corporation worth $102,866,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in Dover Corporation by 15.1% in 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake in Dover Corporation by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,743 shares during the period. Penserra Capital Management LLC lifted its stake in Dover Corporation by 13.0% in the second 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 during the period. First Mercantile Trust Co. boosted its holdings in shares of 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 worth $187,000 after buying an additional 213 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new position in shares of Dover Corporation during the 1st quarter worth approximately $200,000. 86.01% of the stock is owned by institutional investors and hedge funds.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were 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 of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by corporate insiders.
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Shares of Dover Corporation (NYSE:DOV) traded up 0.98% on Monday, hitting $92.29. The company had a trading volume of 459,096 shares. The stock has a market capitalization of $14.37 billion, a PE ratio of 23.07 and a beta of 1.27. The firm’s 50 day moving average price is $86.06 and its 200-day moving average price is $82.19. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $92.74.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results 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. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company posted $0.76 EPS. Dover Corporation’s revenue was up 18.2% on a year-over-year basis. Analysts forecast that Dover Corporation will post $4.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Tuesday, August 29th. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio is 47.12%.
DOV has been the subject of several research analyst reports. Robert W. Baird set a $91.00 price objective on shares of Dover Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. BMO Capital Markets reissued a “buy” rating and set a $94.00 target price on shares of Dover Corporation in a research note on Sunday, August 27th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday, July 18th. Citigroup Inc. raised their price target on shares of Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $91.00 price target on shares of Dover Corporation in a report on Wednesday, September 6th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Dover Corporation presently has an average rating of “Hold” and a consensus price target of $91.15.
Dover Corporation 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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