Nippon Life Global Investors Americas Inc. reduced its stake in Dover Corp (NYSE:DOV) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,120 shares of the industrial products company’s stock after selling 4,490 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Dover were worth $2,134,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Dover by 2.4% during the fourth quarter. BlackRock Inc. now owns 10,116,808 shares of the industrial products company’s stock worth $1,021,698,000 after buying an additional 234,543 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Dover by 5.9% in the 4th quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock valued at $600,151,000 after purchasing an additional 328,864 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Dover by 17.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,810,306 shares of the industrial products company’s stock valued at $531,702,000 after purchasing an additional 848,098 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Dover by 2.3% in the 3rd quarter. Wells Fargo & Company MN now owns 3,205,690 shares of the industrial products company’s stock valued at $292,968,000 after purchasing an additional 73,375 shares in the last quarter. Finally, Third Point LLC purchased a new stake in Dover in the 3rd quarter valued at approximately $150,794,000. Institutional investors and hedge funds own 88.32% of the company’s stock.
Shares of Dover Corp (DOV) traded down $1.61 during trading hours on Wednesday, hitting $99.00. 1,050,000 shares of the company’s stock traded hands, compared to its average volume of 1,300,000. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $15,290.00, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.33 and a beta of 1.28. Dover Corp has a 12 month low of $75.97 and a 12 month high of $109.06.
Dover (NYSE:DOV) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. sell-side analysts anticipate that Dover Corp will post 5.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.90%. Dover’s dividend payout ratio (DPR) is presently 39.00%.
In other news, VP Anthony K. Kosinski sold 895 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $104.34, for a total transaction of $93,384.30. Following the transaction, the vice president now owns 8,516 shares in the company, valued at approximately $888,559.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Gary Kennon sold 15,702 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total transaction of $1,601,761.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,897 shares of company stock valued at $2,031,745. 2.50% of the stock is owned by insiders.
A number of research firms have recently issued reports on DOV. Barclays assumed coverage on shares of Dover in a research report on Thursday, February 15th. They set an “overweight” rating and a $120.00 price target for the company. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a research report on Friday, February 2nd. Seaport Global Securities reiterated a “hold” rating and issued a $110.00 price target on shares of Dover in a report on Friday, February 2nd. BMO Capital Markets boosted their price objective on shares of Dover from $116.00 to $118.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Morgan Stanley boosted their price objective on shares of Dover from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $107.83.
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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