ELM Advisors LLC held its position in shares of Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,585 shares of the industrial products company’s stock at the end of the second quarter. ELM Advisors LLC’s holdings in Dover Corporation were worth $288,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in 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 during the period. Cambridge Investment Research Advisors Inc. raised its stake in 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 during the period. MARSHALL WACE ASIA Ltd bought a new stake in Dover Corporation during the first quarter worth about $6,512,000. Candriam Luxembourg S.C.A. raised its stake in 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 during the period. Finally, Gulf International Bank UK Ltd raised its stake in 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 during the period. Institutional investors own 85.31% of the company’s stock.
Shares of Dover Corporation (DOV) opened at 85.05 on Friday. The firm has a market capitalization of $13.25 billion, a P/E ratio of 21.26 and a beta of 1.27. The stock’s 50 day moving average is $83.36 and its 200-day moving average is $80.94. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $87.63.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.21%. 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 payout ratio is presently 44.11%.
A number of research analysts recently commented on the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Bank of America Corporation upped their price objective on Dover Corporation from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Edward Jones lowered Dover Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Finally, Stifel Nicolaus upped their price objective on Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, April 21st. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $87.73.
In other Dover Corporation news, Director Michael B. Stubbs sold 40,000 shares of the company’s 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 in the company, valued at $22,914,127.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael B. Stubbs sold 25,000 shares of the company’s 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 owns 275,344 shares in the company, valued at $23,965,941.76. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
About Dover Corporation
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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