Keybank National Association OH cut its stake in shares of Dover Corporation (NYSE:DOV) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 63,058 shares of the company’s stock after selling 2,515 shares during the period. Keybank National Association OH’s holdings in Dover Corporation were worth $4,725,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in DOV. Bank of New York Mellon Corp raised its position in shares of Dover Corporation by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 3,272,919 shares of the company’s stock valued at $226,877,000 after buying an additional 580,562 shares in the last quarter. NewFocus Financial Group LLC raised its position in shares of Dover Corporation by 0.3% in the third quarter. NewFocus Financial Group LLC now owns 37,866 shares of the company’s stock valued at $2,788,000 after buying an additional 109 shares in the last quarter. Rainier Investment Management LLC bought a new position in shares of Dover Corporation during the second quarter valued at approximately $11,999,000. JPMorgan Chase & Co. raised its position in shares of Dover Corporation by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 3,649,354 shares of the company’s stock valued at $268,738,000 after buying an additional 656,989 shares in the last quarter. Finally, BB&T Corp raised its position in shares of Dover Corporation by 1.0% in the third quarter. BB&T Corp now owns 200,794 shares of the company’s stock valued at $14,787,000 after buying an additional 2,061 shares in the last quarter. Institutional investors own 84.57% of the company’s stock.
Dover Corporation (NYSE:DOV) traded down 0.68% during trading on Friday, reaching $79.44. 445,246 shares of the company were exchanged. The stock has a market capitalization of $12.35 billion, a PE ratio of 24.44 and a beta of 1.18. Dover Corporation has a 52-week low of $58.15 and a 52-week high of $82.32. The firm’s 50 day moving average is $78.38 and its 200 day moving average is $73.25.
Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, January 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.95 by $0.24. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.71 billion. Dover Corporation had a return on equity of 12.35% and a net margin of 7.49%. The business’s revenue was down 89.5% on a year-over-year basis. During the same period last year, the firm posted $0.81 earnings per share. Analysts expect that Dover Corporation will post $3.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, February 24th. Dover Corporation’s dividend payout ratio (DPR) is presently 53.99%.
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Several equities analysts have commented on DOV shares. Stifel Nicolaus increased their price target on shares of Dover Corporation from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, January 27th. RBC Capital Markets reiterated a “sector perform” rating and issued a $71.00 price target (up from $68.00) on shares of Dover Corporation in a research note on Thursday, December 15th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Dover Corporation in a research note on Thursday, December 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corporation in a research note on Thursday, December 15th. Finally, Zacks Investment Research upgraded shares of Dover Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $74.19.
About Dover Corporation
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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