Prudential Financial Inc. cut its position in Dover Corp (NYSE:DOV) by 0.0% during the first quarter, Holdings Channel reports. The firm owned 229,784 shares of the industrial products company’s stock after selling 10 shares during the period. Prudential Financial Inc. owned about 0.15% of Dover Corp worth $18,463,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. KCM Investment Advisors LLC raised its stake in Dover Corp by 0.3% in the third quarter. KCM Investment Advisors LLC now owns 5,917 shares of the industrial products company’s stock worth $436,000 after buying an additional 20 shares during the period. Diversified Trust Co raised its position in shares of Dover Corp by 0.8% in the first quarter. Diversified Trust Co now owns 4,554 shares of the industrial products company’s stock valued at $366,000 after buying an additional 37 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $117,000 after buying an additional 40 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Dover Corp by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,905 shares of the industrial products company’s stock valued at $667,000 after buying an additional 40 shares during the last quarter. Finally, Capital One National Association raised its position in shares of Dover Corp by 0.9% in the first quarter. Capital One National Association now owns 4,834 shares of the industrial products company’s stock valued at $388,000 after buying an additional 44 shares during the last quarter. 84.57% of the stock is owned by institutional investors and hedge funds.
Shares of Dover Corp (NYSE DOV) traded down 0.48% during midday trading on Friday, hitting $83.15. 1,685,361 shares of the stock traded hands. The firm’s 50 day moving average price is $80.63 and its 200 day moving average price is $78.34. Dover Corp has a 12-month low of $63.93 and a 12-month high of $84.40. The company has a market capitalization of $12.94 billion, a PE ratio of 22.47 and a beta of 1.18.
Dover Corp (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 20th. The industrial products company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.48. Dover Corp had a return on equity of 12.35% and a net margin of 7.49%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect that Dover Corp will post $4.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, May 26th. Dover Corp’s dividend payout ratio is 53.99%.
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Several brokerages recently weighed in on DOV. CIBC reaffirmed a “hold” rating on shares of Dover Corp in a research report on Wednesday, May 24th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Dover Corp in a research report on Tuesday, May 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $89.00 price objective (up previously from $86.00) on shares of Dover Corp in a research report on Sunday, April 23rd. Edward Jones lowered shares of Dover Corp from a “buy” rating to a “hold” rating in a research report on Saturday, April 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Dover Corp from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, April 21st. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $84.55.
In other Dover Corp news, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $83.22, for a total value of $3,328,800.00. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $22,914,127.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William Spurgeon sold 7,864 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $81.25, for a total value of $638,950.00. Following the completion of the transaction, the vice president now directly owns 39,155 shares in the company, valued at $3,181,343.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,502 shares of company stock worth $5,216,444. Insiders own 2.60% of the company’s stock.
About Dover Corp
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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