Bank of Montreal Can decreased its stake in Dover Corporation (NYSE:DOV) by 25.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,268 shares of the industrial products company’s stock after selling 43,820 shares during the period. Bank of Montreal Can owned 0.08% of Dover Corporation worth $10,370,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of Dover Corporation by 9.4% in the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after buying an additional 553,136 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Dover Corporation by 7.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,584 shares of the industrial products company’s stock worth $690,000 after buying an additional 625 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Dover Corporation during the first quarter worth $6,512,000. Candriam Luxembourg S.C.A. raised its stake in shares of Dover Corporation by 32.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,205 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 3,477 shares in the last quarter. Finally, 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 worth $3,929,000 after buying an additional 800 shares in the last quarter. 85.31% of the stock is owned by institutional investors.
Dover Corporation (NYSE DOV) opened at 85.05 on Friday. The company has a market capitalization of $13.25 billion, a PE ratio of 21.26 and a beta of 1.27. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $87.63. The stock’s 50 day moving average is $83.36 and its 200-day moving average is $80.94.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share 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 company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the company posted $0.76 earnings per share. Dover Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts expect 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 paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, August 29th. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 2.21%. Dover Corporation’s dividend payout ratio is currently 44.11%.
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DOV has been the subject of a number of research reports. Bank of America Corporation raised their price target on shares of 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 reissued a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, July 18th. Finally, Barclays PLC raised their price target on shares of Dover Corporation from $78.00 to $79.00 and gave the company an “equal weight” rating in a report on Wednesday, April 19th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Dover Corporation currently has an average rating of “Hold” and an average target price of $87.73.
In related news, 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 transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Stubbs sold 40,000 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the transaction, the director now directly owns 275,344 shares in the company, valued at $22,914,127.68. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
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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