Rathbone Brothers plc maintained its position in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,980 shares of the industrial products company’s stock at the close of the second quarter. Rathbone Brothers plc’s holdings in Dover Corporation were worth $1,442,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Schroder Investment Management Group lifted its position in Dover Corporation by 42.2% during the second quarter. Schroder Investment Management Group now owns 8,512 shares of the industrial products company’s stock valued at $670,000 after purchasing an additional 2,528 shares in the last quarter. Blue Rock Advisors LLC purchased a new position in Dover Corporation during the second quarter valued at $808,000. Meiji Yasuda Life Insurance Co lifted its position in Dover Corporation by 1.3% during the second quarter. Meiji Yasuda Life Insurance Co now owns 16,000 shares of the industrial products company’s stock valued at $1,284,000 after purchasing an additional 200 shares in the last quarter. Synovus Financial Corp purchased a new position in Dover Corporation during the second quarter valued at $459,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Dover Corporation by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,565 shares of the industrial products company’s stock valued at $928,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.
Several brokerages have recently commented on DOV. CIBC restated a “hold” rating on shares of Dover Corporation in a research report on Wednesday, May 24th. BidaskClub upgraded Dover Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $90.00 price objective (up from $89.00) on shares of Dover Corporation in a research report on Thursday, July 6th. Seaport Global Securities reiterated a “neutral” rating on shares of Dover Corporation in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $87.00 target price on shares of Dover Corporation in a research report on Thursday, July 6th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $89.42.
In related news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by insiders.
Shares of Dover Corporation (NYSE DOV) traded down 0.37% on Friday, reaching $89.71. The company had a trading volume of 393,610 shares. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $90.35. The company’s 50 day moving average price is $85.52 and its 200-day moving average price is $81.96. The stock has a market capitalization of $13.97 billion, a P/E ratio of 22.43 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the previous year, the company earned $0.76 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts predict that Dover Corporation will post $4.29 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 2.09%. Dover Corporation’s payout ratio is 47.12%.
Dover Corporation 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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