Boston Private Wealth LLC Cuts Position in Dover Corporation (DOV)
Boston Private Wealth LLC cut its position in shares of Dover Corporation (NYSE:DOV) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,155 shares of the industrial products company’s stock after selling 63 shares during the period. Boston Private Wealth LLC’s holdings in Dover Corporation were worth $1,376,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Farmers National Bank raised its position 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 worth $220,000 after buying an additional 10 shares during the last quarter. Cleararc Capital Inc. raised its position in Dover Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock worth $305,000 after buying an additional 15 shares during the last quarter. Contravisory Investment Management Inc. raised its position in 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 worth $267,000 after buying an additional 23 shares during the last quarter. FineMark National Bank & Trust raised its position in 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 worth $264,000 after buying an additional 23 shares during the last quarter. Finally, Patten Group Inc. raised its position in Dover Corporation by 0.5% in the first quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock worth $417,000 after buying an additional 25 shares during the last quarter. Institutional investors own 85.73% of the company’s stock.
Dover Corporation (NYSE:DOV) opened at 84.79 on Wednesday. Dover Corporation has a one year low of $65.50 and a one year high of $87.63. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 21.20 and a beta of 1.27. The stock’s 50 day moving average is $84.33 and its 200-day moving average is $81.20.
Dover Corporation (NYSE:DOV) last released its quarterly earnings data 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. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities research analysts expect that Dover Corporation will post $4.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.22%. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is presently 44.11%.
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DOV has been the topic of several research reports. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $90.00 target price (up previously from $89.00) on shares of Dover Corporation in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. CIBC reiterated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Finally, Stifel Nicolaus increased 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. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Dover Corporation currently 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 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 completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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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