Dover Corporation (DOV) Shares Bought by Balyasny Asset Management LLC
Balyasny Asset Management LLC boosted its stake in Dover Corporation (NYSE:DOV) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,302 shares of the industrial products company’s stock after purchasing an additional 3,077 shares during the period. Balyasny Asset Management LLC owned approximately 0.14% of Dover Corporation worth $17,031,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. lifted its holdings in shares of Dover Corporation by 7.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 464,430 shares of the industrial products company’s stock valued at $37,317,000 after buying an additional 30,294 shares during the period. Oxford Asset Management purchased a new position in shares of Dover Corporation in the 1st quarter worth $491,000. Pacer Advisors Inc. boosted its stake in shares of Dover Corporation by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,169 shares of the industrial products company’s stock worth $255,000 after buying an additional 99 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Dover Corporation by 1.3% in the 1st quarter. Nordea Investment Management AB now owns 7,794 shares of the industrial products company’s stock worth $626,000 after buying an additional 99 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Dover Corporation by 291.9% in the first quarter. Quantbot Technologies LP now owns 3,852 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 2,869 shares during the period. 86.01% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. Morgan Stanley increased their target price on Dover Corporation from $97.00 to $106.00 and gave the company an “overweight” rating in a report on Monday. Zacks Investment Research downgraded Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. upped their price target on shares of Dover Corporation from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research report on Wednesday, June 7th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $91.85.
Dover Corporation (NYSE DOV) opened at 92.49 on Tuesday. The stock has a 50 day moving average price of $87.64 and a 200-day moving average price of $83.09. Dover Corporation has a 1-year low of $65.50 and a 1-year high of $92.74. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 23.12 and a beta of 1.27.
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, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $1.99 billion during 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%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 earnings per share. On average, equities research analysts forecast that Dover Corporation will post $4.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, August 29th. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is currently 47.12%.
In related news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total value of $2,176,000.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by 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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