Dover Corporation (NYSE:DOV) Shares Bought by Fmr LLC
FMR LLC increased its stake in shares of Dover Corporation (NYSE:DOV) by 9.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 131,857 shares of the industrial products company’s stock after buying an additional 11,032 shares during the period. FMR LLC owned about 0.08% of Dover Corporation worth $10,594,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Dover Corporation by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 4,450,739 shares of the industrial products company’s stock worth $357,617,000 after buying an additional 375,001 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Dover Corporation by 10.0% in the first quarter. Wells Fargo & Company MN now owns 2,977,637 shares of the industrial products company’s stock worth $239,252,000 after buying an additional 271,167 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Dover Corporation by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 2,411,510 shares of the industrial products company’s stock worth $193,765,000 after buying an additional 10,273 shares in the last quarter. Inverness Counsel LLC NY boosted its stake in shares of Dover Corporation by 108.5% in the first quarter. Inverness Counsel LLC NY now owns 1,829,420 shares of the industrial products company’s stock worth $145,128,000 after buying an additional 952,023 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Dover Corporation by 0.3% in the first quarter. Alliancebernstein L.P. now owns 1,421,405 shares of the industrial products company’s stock worth $114,210,000 after buying an additional 4,506 shares in the last quarter. 85.73% of the stock is owned by hedge funds and other institutional investors.
Dover Corporation (NYSE DOV) traded down 0.21% on Friday, reaching $83.86. 620,549 shares of the company’s stock were exchanged. Dover Corporation has a one year low of $65.50 and a one year high of $87.63. The firm has a 50 day moving average of $84.23 and a 200-day moving average of $81.11. The stock has a market cap of $13.06 billion, a price-to-earnings ratio of 20.97 and a beta of 1.27.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion for 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%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities research analysts forecast that Dover Corporation will post $4.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 29th. 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 yield of 2.24%. Dover Corporation’s dividend payout ratio is 44.11%.
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A number of brokerages have recently issued reports on DOV. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. Seaport Global Securities reissued a “buy” rating on shares of Dover Corporation in a research note on Monday, June 5th. Finally, CIBC restated a “hold” rating on shares of Dover Corporation in a research report on Wednesday, May 24th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Dover Corporation has an average rating of “Hold” and an average price target of $87.73.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the sale, the director now directly owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.
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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