Synovus Financial Corp bought a new stake in shares of Dover Corporation (NYSE:DOV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,733 shares of the industrial products company’s stock, valued at approximately $459,000.
A number of other large investors have also recently bought and sold shares of DOV. IFP Advisors Inc raised its holdings in shares of 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 buying an additional 227 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 worth $143,000 after buying an additional 1,743 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Dover Corporation by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 172 shares during the last quarter. First Mercantile Trust Co. raised its holdings in shares of Dover Corporation by 16.8% during the first quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 304 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA purchased a new position in shares of Dover Corporation during the first quarter worth $200,000. 86.01% of the stock is owned by institutional investors.
In other news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the director now 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 at the SEC website. Company insiders own 2.50% of the company’s stock.
Several analysts recently commented on DOV shares. Zacks Investment Research upgraded 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 report on Tuesday, July 18th. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Bank of America Corporation raised their price target on shares of Dover Corporation from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Seaport Global Securities reaffirmed a “buy” rating on shares of Dover Corporation in a research note on Monday, June 5th. Finally, Robert W. Baird set a $91.00 target price on shares of Dover Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Dover Corporation has an average rating of “Hold” and a consensus price target of $91.15.
Shares of Dover Corporation (NYSE:DOV) opened at 92.43 on Friday. The company has a 50-day moving average of $86.06 and a 200 day moving average of $82.19. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $92.55. The stock has a market cap of $14.39 billion, a P/E ratio of 23.11 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Dover Corporation will post $4.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio (DPR) is currently 47.12%.
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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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