Price Capital Management Inc. acquired a new stake in Dover Corp (NYSE:DOV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,371 shares of the industrial products company’s stock, valued at approximately $643,000.
Several other hedge funds have also recently added to or reduced their stakes in DOV. Cerebellum GP LLC purchased a new position in shares of Dover in the fourth quarter valued at about $133,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Dover by 388.2% in the third 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 period. Cape Cod Five Cents Savings Bank bought a new stake in shares of Dover during the 3rd quarter valued at about $201,000. NBT Bank N A NY bought a new stake in shares of Dover during the 3rd quarter valued at about $202,000. Finally, Somerville Kurt F bought a new stake in shares of Dover during the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 84.45% of the company’s stock.
In related news, VP Paul Goldberg sold 2,430 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $93.50, for a total transaction of $227,205.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP William T. Bosway sold 6,087 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.66, for a total transaction of $576,195.42. Following the sale, the vice president now directly owns 21,877 shares in the company, valued at approximately $2,070,876.82. The disclosure for this sale can be found here. Insiders have sold 10,876 shares of company stock worth $1,026,090 in the last three months. 2.50% of the stock is currently owned by insiders.
Dover (NYSE:DOV) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Dover’s quarterly revenue was up 13.5% on a year-over-year basis. analysts expect that Dover Corp will post 5.85 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research note on Friday, February 2nd. Seaport Global Securities reaffirmed a “hold” rating and set a $110.00 target price on shares of Dover in a research note on Friday, February 2nd. BMO Capital Markets lifted their target price on shares of Dover from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Morgan Stanley lifted their target price on shares of Dover from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, SunTrust Banks lifted their target price on shares of Dover to $106.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Dover has an average rating of “Hold” and an average target price of $104.42.
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Dover 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.
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