D.A. Davidson & CO. Buys 827 Shares of Dover Corp (DOV)

D.A. Davidson & CO. raised its stake in shares of Dover Corp (NYSE:DOV) by 13.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 7,176 shares of the industrial products company’s stock after buying an additional 827 shares during the period. D.A. Davidson & CO.’s holdings in Dover were worth $635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fort L.P. purchased a new position in shares of Dover during the 2nd quarter valued at about $118,000. Centaurus Financial Inc. purchased a new position in shares of Dover during the 2nd quarter valued at about $127,000. Piedmont Investment Advisors LLC purchased a new position in shares of Dover during the 2nd quarter valued at about $133,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Dover during the 3rd quarter valued at about $202,000. Finally, Reliance Trust Co. of Delaware purchased a new position in shares of Dover during the 3rd quarter valued at about $203,000. Institutional investors and hedge funds own 90.84% of the company’s stock.

Shares of Dover stock opened at $86.16 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 1.09. Dover Corp has a twelve month low of $70.12 and a twelve month high of $90.26. The stock has a market capitalization of $12.42 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.34.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.07. Dover had a return on equity of 21.22% and a net margin of 9.69%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Dover’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that Dover Corp will post 4.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.92 annualized dividend and a dividend yield of 2.23%. Dover’s dividend payout ratio is presently 47.64%.

In related news, Director Mary A. Winston sold 2,000 shares of Dover stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the transaction, the director now owns 13,055 shares in the company, valued at approximately $1,074,295.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by insiders.

A number of equities analysts have weighed in on DOV shares. Gordon Haskett started coverage on Dover in a research note on Friday, October 12th. They set a “buy” rating for the company. Oppenheimer reiterated a “hold” rating on shares of Dover in a research note on Tuesday, September 11th. Zacks Investment Research lowered Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Barclays lifted their price objective on Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, October 19th. Finally, SunTrust Banks lifted their price objective on Dover to $91.00 and gave the company a “hold” rating in a research note on Friday, October 19th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $89.77.

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Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

Read More: Systematic Risk

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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