Northwestern Mutual Investment Management Company LLC lowered its position in shares of Dover Corp (NYSE:DOV) by 20.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,109 shares of the industrial products company’s stock after selling 7,081 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Dover were worth $2,761,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DOV. Victory Capital Management Inc. lifted its stake in Dover by 11.1% during the fourth quarter. Victory Capital Management Inc. now owns 28,284 shares of the industrial products company’s stock worth $2,856,000 after purchasing an additional 2,818 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Dover by 4.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,707 shares of the industrial products company’s stock worth $1,384,000 after purchasing an additional 584 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Dover during the fourth quarter worth about $4,282,000. California Public Employees Retirement System lifted its stake in Dover by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 436,093 shares of the industrial products company’s stock worth $44,041,000 after purchasing an additional 20,517 shares during the last quarter. Finally, Associated Banc Corp bought a new stake in Dover during the fourth quarter worth about $202,000. 85.69% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Mary A. Winston sold 2,500 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $78.86, for a total transaction of $197,150.00. Following the transaction, the director now owns 15,055 shares in the company, valued at approximately $1,187,237.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jay L. Kloosterboer sold 14,745 shares of the business’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $78.67, for a total value of $1,159,989.15. Following the transaction, the senior vice president now owns 23,096 shares in the company, valued at approximately $1,816,962.32. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Shares of Dover opened at $77.79 on Thursday, MarketBeat reports. Dover Corp has a 1 year low of $62.10 and a 1 year high of $88.11. The stock has a market cap of $12.22 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. The company has a current ratio of 1.42, a quick ratio of 0.95 and a debt-to-equity ratio of 0.68.
Dover (NYSE:DOV) last announced its quarterly earnings results on Friday, April 27th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Dover had a return on equity of 16.48% and a net margin of 9.71%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Dover’s revenue was up 6.0% compared to the same quarter last year. analysts expect that Dover Corp will post 4.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. Dover’s dividend payout ratio is presently 46.65%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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