Schwab Charles Investment Management Inc. boosted its stake in shares of Dover Corporation (NYSE:DOV) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 586,424 shares of the industrial products company’s stock after purchasing an additional 26,930 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.38% of Dover worth $53,594,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in shares of Dover by 15.1% in the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 227 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Dover by 388.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 1,347 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Dover by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after buying an additional 258 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in Dover by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in Dover during the third quarter worth $201,000. 84.60% of the stock is currently owned by institutional investors.
Dover Corporation (NYSE DOV) traded down $1.59 during trading on Wednesday, reaching $95.95. 1,167,900 shares of the company traded hands, compared to its average volume of 1,217,725. Dover Corporation has a 52-week low of $73.61 and a 52-week high of $98.60. The firm has a market capitalization of $15,195.86, a PE ratio of 27.02, a P/E/G ratio of 1.90 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, November 29th. Dover’s dividend payout ratio (DPR) is presently 43.72%.
In other news, VP Paul Goldberg sold 2,430 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $93.50, for a total value of $227,205.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael B. Stubbs sold 8,495 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $96.30, for a total transaction of $818,068.50. Following the completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $26,515,627.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,276 shares of company stock valued at $6,234,042. 2.50% of the stock is currently owned by insiders.
A number of analysts recently issued reports on DOV shares. Royal Bank Of Canada reissued a “hold” rating and set a $91.00 price target on shares of Dover in a report on Wednesday, September 6th. SunTrust Banks restated a “hold” rating and set a $90.00 price objective on shares of Dover in a research report on Thursday, October 12th. J P Morgan Chase & Co upgraded shares of Dover from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $105.00 in a research report on Wednesday, September 20th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Morgan Stanley upped their price objective on shares of Dover from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $94.69.
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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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