BerganKDV Wealth Management LLC increased its position in Dover Corporation (NYSE:DOV) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,749 shares of the industrial products company’s stock after buying an additional 317 shares during the period. BerganKDV Wealth Management LLC’s holdings in Dover Corporation were worth $702,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the stock. Farmers National Bank raised its position in shares of Dover Corporation by 0.3% in the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after buying an additional 10 shares during the last quarter. Cleararc Capital Inc. raised its position in shares of Dover Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after buying an additional 15 shares during the last quarter. Patten Group Inc. raised its position in shares of Dover Corporation by 0.5% in the first quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock valued at $417,000 after buying an additional 25 shares during the last quarter. Diversified Trust Co raised its position in shares of Dover Corporation by 0.8% in the first quarter. Diversified Trust Co now owns 4,554 shares of the industrial products company’s stock valued at $366,000 after buying an additional 37 shares during the last quarter. Finally, Capital One National Association raised its position in shares of Dover Corporation by 0.9% in the first quarter. Capital One National Association now owns 4,834 shares of the industrial products company’s stock valued at $388,000 after buying an additional 44 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Dover Corporation (DOV) opened at 85.05 on Friday. Dover Corporation has a one year low of $65.50 and a one year high of $87.63. The firm has a 50 day moving average of $83.36 and a 200-day moving average of $80.94. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 21.26 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates 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 for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. Equities research analysts forecast that Dover Corporation will post $4.31 EPS for the current fiscal year.
The company also recently disclosed 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. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. This represents a $1.88 annualized dividend and a yield of 2.21%. Dover Corporation’s dividend payout ratio (DPR) is presently 44.11%.
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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reiterated a “hold” rating and set a $87.00 target price on shares of Dover Corporation in a research note on Thursday, July 6th. Citigroup Inc. increased their target price on shares of Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a research report on Wednesday, June 7th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $87.73.
In related news, Director Michael B. Stubbs sold 40,000 shares of Dover Corporation stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the transaction, the director now 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 can be accessed through this hyperlink. Also, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction that occurred on 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 transaction, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The disclosure for this sale can be found here. 2.50% of the stock is owned by company 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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