Estabrook Capital Management maintained its stake in Dover Corporation (NYSE:DOV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,689 shares of the industrial products company’s stock at the end of the 2nd quarter. Estabrook Capital Management’s holdings in Dover Corporation were worth $2,863,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Alliancebernstein L.P. grew its position in Dover Corporation by 2.9% during the second quarter. Alliancebernstein L.P. now owns 1,463,254 shares of the industrial products company’s stock worth $117,382,000 after buying an additional 41,849 shares in the last quarter. AXA grew its position in Dover Corporation by 0.9% during the second quarter. AXA now owns 22,164 shares of the industrial products company’s stock worth $1,778,000 after buying an additional 200 shares in the last quarter. Wells Fargo & Company MN grew its position in Dover Corporation by 5.2% during the second quarter. Wells Fargo & Company MN now owns 3,132,315 shares of the industrial products company’s stock worth $251,274,000 after buying an additional 154,678 shares in the last quarter. CIBC World Markets Inc. grew its position in Dover Corporation by 245.9% during the second quarter. CIBC World Markets Inc. now owns 17,988 shares of the industrial products company’s stock worth $1,443,000 after buying an additional 12,788 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its position in Dover Corporation by 0.5% during the second quarter. Commonwealth Bank of Australia now owns 24,207 shares of the industrial products company’s stock worth $1,940,000 after buying an additional 124 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.
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In related news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on DOV shares. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Bank of America Corporation raised their target price on Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, June 9th. Seaport Global Securities reaffirmed a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Tuesday, July 18th. Finally, Robert W. Baird set a $91.00 price target on Dover Corporation and gave the company a “buy” rating in a research note on Thursday, August 24th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $89.42.
Shares of Dover Corporation (DOV) traded down 0.28% during mid-day trading on Friday, reaching $89.79. The company’s stock had a trading volume of 428,719 shares. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $90.35. The company’s 50-day moving average is $85.52 and its 200 day moving average is $81.96. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 22.45 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the 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 firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts anticipate 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 paid a $0.47 dividend. This is an increase 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%. The ex-dividend date is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is presently 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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