Employees Retirement System of Texas Has $7,059,000 Position in Dover Corporation (DOV)
Employees Retirement System of Texas held its stake in Dover Corporation (NYSE:DOV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,000 shares of the industrial products company’s stock at the end of the 2nd quarter. Employees Retirement System of Texas owned approximately 0.06% of Dover Corporation worth $7,059,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DOV. IFP Advisors Inc lifted its position in Dover Corporation by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after buying an additional 227 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Dover Corporation by 5,446.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after buying an additional 1,743 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Dover Corporation by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after buying an additional 258 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Dover Corporation by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares during the last quarter. Finally, Harfst & Associates Inc. acquired a new position in Dover Corporation during the first quarter worth $200,000. Institutional investors and hedge funds own 86.01% of the company’s stock.
A number of brokerages have issued reports on DOV. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 price target (up previously from $89.00) on shares of Dover Corporation in a research report on Thursday, July 6th. Zacks Investment Research cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus reissued a “hold” rating and issued 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $91.85.
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In other news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is owned by insiders.
Dover Corporation (DOV) opened at 93.00 on Wednesday. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 23.25 and a beta of 1.27. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $93.41. The stock’s 50 day moving average price is $87.85 and its 200 day moving average price is $83.19.
Dover Corporation (NYSE:DOV) last posted its quarterly 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 for the quarter, compared to the consensus estimate 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 was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. On average, analysts forecast that Dover Corporation will post $4.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 2.02%. Dover Corporation’s payout ratio is currently 47.12%.
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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