Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Dover Corporation (NYSE:DOV) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,583 shares of the industrial products company’s stock after buying an additional 14,092 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Dover Corporation worth $34,862,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Farmers National Bank raised its stake in shares of 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 period. Cleararc Capital Inc. raised its stake 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 worth $305,000 after buying an additional 15 shares during the period. Contravisory Investment Management Inc. raised its stake 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 worth $267,000 after buying an additional 23 shares during the period. FineMark National Bank & Trust raised its stake 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 worth $264,000 after buying an additional 23 shares during the period. Finally, Patten Group Inc. raised its stake 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 worth $417,000 after buying an additional 25 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Dover Corporation (NYSE DOV) opened at 84.48 on Tuesday. The stock has a market capitalization of $13.16 billion, a price-to-earnings ratio of 21.12 and a beta of 1.27. The stock’s 50 day moving average is $84.57 and its 200 day moving average is $81.34. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $87.63.

Dover Corporation (NYSE:DOV) last released its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. Dover Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, equities analysts forecast that Dover Corporation will post $4.31 EPS for the current year.

The business also recently announced 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. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. This represents a $1.88 annualized dividend and a yield of 2.23%. Dover Corporation’s dividend payout ratio (DPR) is presently 44.11%.

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A number of equities research analysts have recently weighed in on the stock. CIBC reissued a “hold” rating on shares of Dover Corporation in a report on Wednesday, May 24th. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 price objective (up from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Stifel Nicolaus reissued a “hold” rating and set a $87.00 price objective on shares of Dover Corporation in a report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Dover Corporation in a report on Wednesday, June 7th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $89.00.

In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the firm’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 transaction, the director now owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by company insiders.

About Dover Corporation

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.

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

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