Bank of Montreal Can Sells 43,820 Shares of Dover Corporation (DOV)

Bank of Montreal Can cut its position in Dover Corporation (NYSE:DOV) by 25.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,268 shares of the industrial products company’s stock after selling 43,820 shares during the period. Bank of Montreal Can owned about 0.08% of Dover Corporation worth $10,370,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of DOV. First Bank & Trust boosted its position in Dover Corporation by 15.5% in the first quarter. First Bank & Trust now owns 1,326 shares of the industrial products company’s stock worth $106,000 after buying an additional 178 shares in the last quarter. Ledyard National Bank boosted its position in Dover Corporation by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock worth $119,000 after buying an additional 1,200 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in 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 in the last quarter. Penserra Capital Management LLC boosted its position in Dover Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after buying an additional 172 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in Dover Corporation by 16.8% in the first quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock worth $170,000 after buying an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 85.73% of the company’s stock.

Shares of Dover Corporation (DOV) traded down 0.21% during midday trading on Friday, hitting $83.86. 620,549 shares of the stock traded hands. The stock has a 50-day moving average of $84.23 and a 200-day moving average of $81.11. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 20.97 and a beta of 1.27. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $87.63.

Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating 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 business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Dover Corporation will post $4.31 earnings per share for the current fiscal year.

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

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DOV has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Dover Corporation from $85.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, April 21st. Edward Jones cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $89.00 price target (up from $86.00) on shares of Dover Corporation in a research note on Sunday, April 23rd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research note on Tuesday, May 23rd. Finally, CIBC reaffirmed a “hold” rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Dover Corporation has an average 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 value of $2,176,000.00. Following the completion of the transaction, 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.

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.

Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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