Denali Advisors LLC grew its position in Dover Corp (NYSE:DOV) by 24.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,500 shares of the industrial products company’s stock after purchasing an additional 16,500 shares during the quarter. Denali Advisors LLC owned approximately 0.06% of Dover worth $8,413,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of DOV. Coastal Investment Advisors Inc. lifted its position in shares of Dover by 154.4% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 262 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 159 shares during the period. Shamrock Asset Management LLC acquired a new position in shares of Dover during the 2nd quarter valued at $26,000. Krane Funds Advisors LLC acquired a new position in shares of Dover during the 2nd quarter valued at $26,000. NuWave Investment Management LLC lifted its position in shares of Dover by 229.1% during the 2nd quarter. NuWave Investment Management LLC now owns 283 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 197 shares during the period. Finally, Motco acquired a new position in shares of Dover during the 2nd quarter valued at $28,000. 85.93% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on DOV. Citigroup boosted their target price on shares of Dover from $113.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Barclays boosted their target price on shares of Dover from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their target price on shares of Dover to $97.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 11th. Robert W. Baird boosted their target price on shares of Dover from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $99.74.
Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 18th. The industrial products company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.01. Dover had a net margin of 8.50% and a return on equity of 29.22%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Dover Corp will post 5.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.49 per share. This is an increase from Dover’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.96 annualized dividend and a yield of 2.10%. Dover’s dividend payout ratio is presently 39.44%.
In other news, insider Brad M. Cerepak sold 9,918 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $90.93, for a total value of $901,843.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William Spurgeon sold 20,049 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the completion of the sale, the vice president now owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,383 shares of company stock worth $4,385,834. Corporate insiders own 1.70% of the company’s stock.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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.
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