Comerica Bank decreased its stake in Dover Corporation (NYSE:DOV) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 93,130 shares of the company’s stock after selling 5,304 shares during the period. Comerica Bank’s holdings in Dover Corporation were worth $7,418,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in DOV. American Century Companies Inc. purchased a new position in shares of Dover Corporation during the second quarter valued at about $3,932,000. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Dover Corporation by 1.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,178 shares of the company’s stock valued at $844,000 after buying an additional 220 shares during the period. BB&T Corp boosted its position in shares of Dover Corporation by 5,871.5% in the second quarter. BB&T Corp now owns 198,733 shares of the company’s stock valued at $13,776,000 after buying an additional 195,405 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Dover Corporation by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 3,272,919 shares of the company’s stock valued at $226,877,000 after buying an additional 580,562 shares during the period. Finally, Channing Capital Management LLC purchased a new position in shares of Dover Corporation during the second quarter valued at about $1,216,000. Hedge funds and other institutional investors own 84.57% of the company’s stock.
Shares of Dover Corporation (NYSE:DOV) traded up 0.58% during midday trading on Monday, reaching $79.74. The company’s stock had a trading volume of 447,570 shares. Dover Corporation has a 12 month low of $57.39 and a 12 month high of $82.32. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 24.54 and a beta of 1.18. The stock has a 50-day moving average of $77.96 and a 200 day moving average of $73.02.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.95 by $0.24. Dover Corporation had a net margin of 7.49% and a return on equity of 12.35%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was down 89.5% on a year-over-year basis. On average, analysts predict that Dover Corporation will post $3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.22%. Dover Corporation’s dividend payout ratio (DPR) is presently 53.99%.
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DOV has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Dover Corporation from $65.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, October 20th. Zacks Investment Research raised Dover Corporation from a “strong sell” rating to a “hold” rating in a research report on Monday, December 12th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Dover Corporation in a research report on Thursday, December 15th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $71.00 target price (up from $68.00) on shares of Dover Corporation in a research report on Thursday, December 15th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Dover Corporation in a research report on Thursday, December 29th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $74.19.
Dover Corporation Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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