Rice Hall James & Associates LLC reduced its stake in Dover Corp (NYSE:DOV) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 23,153 shares of the industrial products company’s stock after selling 332 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Dover were worth $2,320,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Dover by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,908,781 shares of the industrial products company’s stock worth $135,190,000 after buying an additional 122,881 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Dover during the 1st quarter worth $755,000. Raymond James Trust N.A. lifted its holdings in Dover by 9.9% during the 1st quarter. Raymond James Trust N.A. now owns 3,254 shares of the industrial products company’s stock worth $305,000 after buying an additional 292 shares in the last quarter. Leavell Investment Management Inc. acquired a new position in Dover during the 1st quarter worth $230,000. Finally, Tributary Capital Management LLC lifted its holdings in Dover by 77.8% during the 1st quarter. Tributary Capital Management LLC now owns 16,700 shares of the industrial products company’s stock worth $1,566,000 after buying an additional 7,306 shares in the last quarter. 84.30% of the stock is owned by institutional investors.
Several research analysts have issued reports on DOV shares. Citigroup set a $114.00 price objective on Dover and gave the stock a “buy” rating in a report on Friday, July 19th. Deutsche Bank set a $102.00 price objective on Dover and gave the stock a “hold” rating in a report on Monday, April 22nd. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Wednesday, April 24th. Royal Bank of Canada set a $94.00 price objective on Dover and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine downgraded Dover from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Dover presently has an average rating of “Hold” and a consensus target price of $98.76.
DOV stock traded up $1.71 during trading hours on Friday, reaching $90.71. 15,624 shares of the stock were exchanged, compared to its average volume of 988,478. The firm’s 50-day moving average is $97.09 and its 200-day moving average is $94.46. The company has a market cap of $13.28 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.36 and a beta of 1.48. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 0.91. Dover Corp has a 12 month low of $65.83 and a 12 month high of $103.47.
Dover (NYSE:DOV) last released its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.01. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Dover had a return on equity of 29.22% and a net margin of 8.50%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. As a group, equities research analysts forecast that Dover Corp will post 5.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Dover’s previous quarterly dividend of $0.48. Dover’s dividend payout ratio is 38.63%.
In other news, insider Jay L. Kloosterboer sold 15,416 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $98.00, for a total value of $1,510,768.00. Following the completion of the transaction, the insider now owns 24,425 shares in the company, valued at approximately $2,393,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Spurgeon sold 20,049 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $98.42, for a total value of $1,973,222.58. Following the completion of the transaction, 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. 1.70% of the stock is currently owned by corporate insiders.
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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