Dover Corporation (DOV) Shares Bought by Arizona State Retirement System

Arizona State Retirement System increased its position in Dover Corporation (NYSE:DOV) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 38,572 shares of the industrial products company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Dover Corporation were worth $3,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOV. Schwab Charles Investment Management Inc. boosted its position in Dover Corporation by 3.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 559,494 shares of the industrial products company’s stock worth $44,883,000 after buying an additional 18,756 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Dover Corporation by 461.8% in the second quarter. Canada Pension Plan Investment Board now owns 399,600 shares of the industrial products company’s stock worth $32,056,000 after buying an additional 328,473 shares in the last quarter. Global X Management Co. LLC boosted its position in Dover Corporation by 18.9% in the second quarter. Global X Management Co. LLC now owns 3,170 shares of the industrial products company’s stock worth $254,000 after buying an additional 503 shares in the last quarter. Seaward Management Limited Partnership boosted its position in Dover Corporation by 0.3% in the second quarter. Seaward Management Limited Partnership now owns 25,746 shares of the industrial products company’s stock worth $2,065,000 after buying an additional 66 shares in the last quarter. Finally, Barrett Asset Management LLC boosted its position in Dover Corporation by 83.4% in the second quarter. Barrett Asset Management LLC now owns 2,660 shares of the industrial products company’s stock worth $213,000 after buying an additional 1,210 shares in the last quarter. 85.73% of the stock is owned by institutional investors and hedge funds.

Dover Corporation (DOV) opened at 84.04 on Friday. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $87.63. The firm has a market cap of $13.09 billion, a PE ratio of 21.01 and a beta of 1.27. The firm’s 50-day moving average is $84.09 and its 200 day moving average is $81.07.

Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.76 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Dover Corporation will post $4.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio (DPR) is presently 44.11%.

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A number of research firms have issued reports on DOV. Zacks Investment Research cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. raised their target price on shares of Dover Corporation from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Stifel Nicolaus raised their target price on shares of Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 target price (up previously from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $87.73.

In other news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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