First Quadrant L P CA Has $698,000 Position in Dover Corporation (NYSE:DOV)

First Quadrant L P CA continued to hold its stake in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,700 shares of the industrial products company’s stock at the end of the second quarter. First Quadrant L P CA’s holdings in Dover Corporation were worth $698,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the company. National Pension Service raised its stake in shares of Dover Corporation by 0.8% in the first quarter. National Pension Service now owns 145,970 shares of the industrial products company’s stock valued at $11,688,000 after buying an additional 1,220 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Dover Corporation by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 48,908 shares of the industrial products company’s stock valued at $3,929,000 after buying an additional 800 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of Dover Corporation by 7,073.9% in the first quarter. Contravisory Investment Management Inc. now owns 3,300 shares of the industrial products company’s stock valued at $265,000 after buying an additional 3,254 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in shares of Dover Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 140,055 shares of the industrial products company’s stock valued at $11,253,000 after buying an additional 4,217 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of Dover Corporation by 2.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock valued at $292,000 after buying an additional 100 shares during the period. 85.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Dover Corporation (DOV) opened at 85.36 on Thursday. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $87.63. The stock has a 50 day moving average price of $83.95 and a 200-day moving average price of $81.05. The company has a market capitalization of $13.29 billion, a PE ratio of 21.34 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. Analysts forecast that Dover Corporation will post $4.31 EPS for the current year.

The business also recently announced 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, August 29th. Dover Corporation’s dividend payout ratio (DPR) is 44.11%.

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A number of research firms have recently weighed in on DOV. Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, July 18th. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. Seaport Global Securities reissued a “buy” rating on shares of Dover Corporation in a research note on Monday, June 5th. Finally, CIBC restated a “hold” rating on shares of Dover Corporation in a report on Wednesday, May 24th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $87.73.

In related news, Director Michael B. Stubbs sold 40,000 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $83.22, for a total value of $3,328,800.00. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $22,914,127.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction 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 directly owns 275,344 shares in the company, valued at $23,965,941.76. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

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.

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

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