Salem Capital Management Inc. acquired a new position in Dover Corp (NYSE:DOV) in the first quarter, HoldingsChannel.com reports. The fund acquired 2,550 shares of the industrial products company’s stock, valued at approximately $239,000.
Several other institutional investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Dover in the 1st quarter worth $755,000. Truvestments Capital LLC acquired a new stake in shares of Dover in the 1st quarter worth $55,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Dover in the 1st quarter worth $788,000. Gofen & Glossberg LLC IL lifted its position in Dover by 1.5% during the 1st quarter. Gofen & Glossberg LLC IL now owns 8,627 shares of the industrial products company’s stock worth $809,000 after acquiring an additional 127 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Dover by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 41,726 shares of the industrial products company’s stock worth $3,912,000 after acquiring an additional 495 shares during the period. 86.34% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on the company. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Wednesday, March 27th. Wolfe Research raised Dover from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. SunTrust Banks lifted their price target on Dover to $91.00 and gave the stock a “hold” rating in a research report on Wednesday, January 30th. They noted that the move was a valuation call. Morgan Stanley lifted their price target on Dover from $92.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, March 8th. Finally, Barclays lowered their price target on Dover from $97.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, December 17th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $91.03.
In other Dover news, VP William Spurgeon sold 13,102 shares of Dover stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $87.19, for a total transaction of $1,142,363.38. Following the completion of the transaction, the vice president now owns 6,393 shares in the company, valued at approximately $557,405.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jay L. Kloosterboer sold 12,363 shares of Dover stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $87.53, for a total value of $1,082,133.39. Following the transaction, the senior vice president now owns 23,827 shares of the company’s stock, valued at approximately $2,085,577.31. The disclosure for this sale can be found here. Insiders have sold a total of 48,200 shares of company stock valued at $4,277,800 in the last quarter. Company insiders own 1.70% of the company’s stock.
DOV traded down $0.25 on Monday, reaching $96.88. 22,137 shares of the stock were exchanged, compared to its average volume of 863,365. Dover Corp has a fifty-two week low of $65.83 and a fifty-two week high of $97.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.96 and a current ratio of 1.37. The stock has a market cap of $14.10 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.39 and a beta of 1.49.
Dover (NYSE:DOV) last released its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.14. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Dover had a return on equity of 24.90% and a net margin of 7.84%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. Analysts predict that Dover Corp will post 5.73 EPS for the current fiscal year.
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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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