NGAM Advisors L.P. boosted its stake in shares of Dover Corporation (NYSE:DOV) by 21.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,197 shares of the industrial products company’s stock after buying an additional 3,268 shares during the period. NGAM Advisors L.P.’s holdings in Dover Corporation were worth $1,460,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in DOV. Farmers National Bank increased its stake in Dover Corporation by 0.3% in the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after buying an additional 10 shares during the period. Cleararc Capital Inc. increased its position in shares of Dover Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after buying an additional 15 shares during the last quarter. Contravisory Investment Management Inc. increased its position in shares of Dover Corporation by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after buying an additional 23 shares during the last quarter. FineMark National Bank & Trust increased its position in shares of Dover Corporation by 0.7% in the second quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after buying an additional 23 shares during the last quarter. Finally, Patten Group Inc. increased its position in shares of Dover Corporation by 0.5% in the first quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock valued at $417,000 after buying an additional 25 shares during the last quarter. 85.73% of the stock is currently owned by institutional investors.

Dover Corporation (DOV) opened at 85.58 on Tuesday. The firm has a market capitalization of $13.33 billion, a P/E ratio of 21.40 and a beta of 1.27. The stock has a 50 day moving average price of $83.56 and a 200-day moving average price of $80.98. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $87.63.

Dover Corporation (NYSE:DOV) last posted its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. Dover Corporation’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. Analysts anticipate that Dover Corporation will post $4.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.47 per share. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is currently 44.11%.

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Several research analysts have commented on DOV shares. Edward Jones downgraded Dover Corporation from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. BidaskClub downgraded Dover Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Stifel Nicolaus lifted their target price on Dover Corporation from $88.00 to $91.00 and gave the stock a “hold” rating in a report on Friday, July 21st. BMO Capital Markets raised Dover Corporation from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $89.00 to $82.00 in a report on Thursday, June 8th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $89.00 target price (up from $86.00) on shares of Dover Corporation in a report on Sunday, April 23rd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Dover Corporation presently has a consensus rating of “Hold” and an average target price of $87.73.

In other news, Director Michael B. Stubbs sold 40,000 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the completion of the sale, the director now directly owns 275,344 shares in the company, valued at $22,914,127.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director now owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Dover Corporation Company Profile

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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Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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