Fifth Third Bancorp maintained its position in Dover Corporation (NYSE:DOV) during the fourth quarter, Holdings Channel reports. The fund owned 28,474 shares of the company’s stock at the end of the fourth quarter. Fifth Third Bancorp’s holdings in Dover Corporation were worth $2,097,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ropes Wealth Advisors LLC raised its position in Dover Corporation by 49.8% in the second quarter. Ropes Wealth Advisors LLC now owns 5,576 shares of the company’s stock valued at $387,000 after buying an additional 1,854 shares during the last quarter. Feltz Wealth PLAN Inc. acquired a new position in Dover Corporation during the second quarter valued at approximately $150,000. Sheaff Brock Investment Advisors LLC acquired a new position in Dover Corporation during the second quarter valued at approximately $203,000. Reilly Herbert Faulkner III acquired a new position in Dover Corporation during the second quarter valued at approximately $2,613,000. Finally, Inverness Counsel LLC NY raised its position in Dover Corporation by 13.6% in the second quarter. Inverness Counsel LLC NY now owns 1,004,919 shares of the company’s stock valued at $69,661,000 after buying an additional 120,015 shares during the last quarter. Hedge funds and other institutional investors own 84.57% of the company’s stock.
Shares of Dover Corporation (NYSE:DOV) traded down 0.622% during midday trading on Tuesday, hitting $79.105. The company had a trading volume of 228,696 shares. The firm’s 50-day moving average is $78.08 and its 200-day moving average is $73.09. Dover Corporation has a 12-month low of $57.39 and a 12-month high of $82.32. The firm has a market capitalization of $12.29 billion, a P/E ratio of 24.340 and a beta of 1.18.
Dover Corporation (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by $0.24. Dover Corporation had a return on equity of 12.35% and a net margin of 7.49%. The firm 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 firm’s quarterly revenue was down 89.5% compared to the same quarter last year. On average, analysts predict that Dover Corporation will post $3.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, February 24th. Dover Corporation’s dividend payout ratio (DPR) is currently 53.99%.
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A number of analysts have recently issued reports on the stock. Langenberg & Company upgraded shares of Dover Corporation from a “sell” rating to a “hold” rating in a research note on Monday, January 30th. RBC Capital Markets set a $73.00 price target on shares of Dover Corporation and gave the company a “hold” rating in a report on Thursday, January 26th. Stifel Nicolaus boosted their price target on shares of Dover Corporation from $76.00 to $85.00 and gave the company a “hold” rating in a report on Friday, January 27th. Vertical Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, January 3rd. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Dover Corporation in a research note on Thursday, December 29th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.19.
About Dover Corporation
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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