State Street Corp lessened its holdings in shares of Dover Co. (NYSE:DOV) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,410,972 shares of the industrial products company’s stock after selling 30,684 shares during the period. State Street Corp owned approximately 5.14% of Dover worth $802,905,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its position in Dover by 32.3% during the first quarter. FMR LLC now owns 167,288 shares of the industrial products company’s stock worth $15,692,000 after buying an additional 40,841 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Dover during the 2nd quarter valued at $3,564,000. Valeo Financial Advisors LLC raised its stake in Dover by 26.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 587 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 121 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Dover by 161.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 39,311 shares of the industrial products company’s stock valued at $3,796,000 after acquiring an additional 24,296 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Dover by 5.0% during the 2nd quarter. New York State Teachers Retirement System now owns 222,096 shares of the industrial products company’s stock valued at $21,446,000 after acquiring an additional 10,619 shares in the last quarter. 80.34% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Dover from $130.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Dover from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Tuesday, September 22nd. Bank of America lifted their price target on Dover from $122.00 to $126.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Finally, Morgan Stanley lifted their price target on Dover from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $114.20.
In related news, VP Anthony K. Kosinski sold 4,203 shares of Dover stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $116.31, for a total transaction of $488,850.93. Following the completion of the sale, the vice president now owns 986 shares of the company’s stock, valued at $114,681.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Anthony K. Kosinski sold 489 shares of Dover stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $116.05, for a total value of $56,748.45. Following the sale, the vice president now directly owns 2,506 shares of the company’s stock, valued at approximately $290,821.30. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.
Shares of Dover stock opened at $123.48 on Friday. The stock has a market cap of $17.79 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.36. The business has a fifty day simple moving average of $115.21 and a 200-day simple moving average of $105.24. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 0.94. Dover Co. has a 12 month low of $62.95 and a 12 month high of $127.39.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, October 20th. The industrial products company reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.28. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Dover had a return on equity of 26.73% and a net margin of 10.02%. Dover’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. Analysts expect that Dover Co. will post 5.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, November 30th will be given a $0.495 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $1.98 annualized dividend and a dividend yield of 1.60%. Dover’s dividend payout ratio (DPR) is presently 33.39%.
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle services, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.
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