Keybank National Association OH cut its holdings in shares of Dover Corp (NYSE:DOV) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,707 shares of the industrial products company’s stock after selling 4,844 shares during the quarter. Keybank National Association OH’s holdings in Dover were worth $5,727,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of DOV. Macquarie Group Ltd. raised its holdings in Dover by 18.2% during the second quarter. Macquarie Group Ltd. now owns 3,900 shares of the industrial products company’s stock valued at $313,000 after acquiring an additional 600 shares during the period. Janus Henderson Group PLC raised its holdings in Dover by 30.3% during the second quarter. Janus Henderson Group PLC now owns 26,854 shares of the industrial products company’s stock valued at $2,154,000 after acquiring an additional 6,251 shares during the period. Koch Industries Inc. bought a new stake in Dover during the second quarter valued at about $236,000. Public Employees Retirement System of Ohio raised its holdings in Dover by 2.0% during the second quarter. Public Employees Retirement System of Ohio now owns 123,325 shares of the industrial products company’s stock valued at $9,893,000 after acquiring an additional 2,420 shares during the period. Finally, Sentry Investment Management LLC raised its holdings in Dover by 1.1% during the second quarter. Sentry Investment Management LLC now owns 10,900 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 117 shares during the period. 84.24% of the stock is currently owned by institutional investors and hedge funds.
DOV has been the topic of several research reports. Barclays initiated coverage on Dover in a report on Thursday. They issued an “overweight” rating and a $120.00 target price on the stock. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a report on Friday, February 2nd. Seaport Global Securities reaffirmed a “hold” rating and issued a $110.00 target price on shares of Dover in a report on Friday, February 2nd. BMO Capital Markets lifted their target price on Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Morgan Stanley lifted their target price on Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $107.83.
In related news, VP William T. Bosway sold 6,087 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.66, for a total transaction of $576,195.42. Following the sale, the vice president now owns 21,877 shares of the company’s stock, valued at $2,070,876.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.
Dover Corp (NYSE:DOV) opened at $101.21 on Friday. The company has a market capitalization of $15,687.97, a PE ratio of 19.65, a P/E/G ratio of 1.33 and a beta of 1.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01. Dover Corp has a 12-month low of $75.51 and a 12-month high of $109.06.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. analysts expect that Dover Corp will post 5.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, February 27th. Dover’s dividend payout ratio is currently 36.50%.
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Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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