Fred Alger Management Inc. held its position in Dover Corporation (NYSE:DOV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,300 shares of the industrial products company’s stock at the end of the 2nd quarter. Fred Alger Management Inc.’s holdings in Dover Corporation were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in DOV. Cramer Rosenthal Mcglynn LLC lifted its holdings in Dover Corporation by 132.6% during the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,797,775 shares of the industrial products company’s stock worth $144,218,000 after purchasing an additional 1,024,890 shares during the last quarter. Royal Bank of Canada lifted its holdings in Dover Corporation by 16.2% during the 2nd quarter. Royal Bank of Canada now owns 271,283 shares of the industrial products company’s stock worth $21,760,000 after purchasing an additional 37,817 shares during the last quarter. AHL Partners LLP lifted its holdings in Dover Corporation by 39.2% during the 2nd quarter. AHL Partners LLP now owns 11,702 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 3,293 shares during the last quarter. L & S Advisors Inc acquired a new stake in Dover Corporation during the 2nd quarter worth approximately $2,862,000. Finally, HighTower Advisors LLC lifted its holdings in Dover Corporation by 107.3% during the 2nd quarter. HighTower Advisors LLC now owns 49,517 shares of the industrial products company’s stock worth $3,978,000 after purchasing an additional 25,630 shares during the last quarter. 86.01% of the stock is owned by institutional investors.
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DOV has been the subject of several research reports. Seaport Global Securities cut Dover Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $91.00 to $86.00 in a report on Wednesday, June 21st. BidaskClub cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 price target (up from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Stifel Nicolaus reissued a “hold” rating and set a $87.00 price target on shares of Dover Corporation in a report on Thursday, July 6th. Finally, Zacks Investment Research raised 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. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $93.58.
Dover Corporation (DOV) opened at 93.61 on Wednesday. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $94.50. The firm’s 50-day moving average price is $89.19 and its 200-day moving average price is $83.74. The company has a market cap of $14.58 billion, a price-to-earnings ratio of 23.40 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 earnings per share. Equities research analysts forecast that Dover Corporation will post $4.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.01%. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio is currently 47.12%.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction 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 sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.
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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