Mutual of America Capital Management LLC Increases Holdings in Dover Corporation (DOV)
Mutual of America Capital Management LLC boosted its holdings in shares of Dover Corporation (NYSE:DOV) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,564 shares of the industrial products company’s stock after acquiring an additional 452 shares during the period. Mutual of America Capital Management LLC’s holdings in Dover Corporation were worth $2,051,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Dover Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 16,178,861 shares of the industrial products company’s stock valued at $1,299,971,000 after purchasing an additional 792,862 shares during the last quarter. BlackRock Inc. increased its stake in shares of Dover Corporation by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock worth $827,412,000 after purchasing an additional 389,449 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Dover Corporation by 9.4% during the 1st quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after purchasing an additional 553,136 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Dover Corporation by 0.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,599,307 shares of the industrial products company’s stock worth $449,176,000 after purchasing an additional 17,738 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Dover Corporation by 11.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after purchasing an additional 511,469 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.
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A number of research firms recently issued reports on DOV. Stifel Nicolaus upped their target price on Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, July 21st. BidaskClub downgraded Dover Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Royal Bank Of Canada reissued a “hold” rating and issued a $91.00 price target on shares of Dover Corporation in a report on Wednesday, September 6th. BMO Capital Markets raised Dover Corporation from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $89.00 to $82.00 in a report on Thursday, June 8th. Finally, Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $91.85.
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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
Dover Corporation (DOV) opened at 93.04 on Wednesday. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 23.26 and a beta of 1.27. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $93.04. The company’s 50-day moving average is $87.85 and its 200 day moving average is $83.19.
Dover Corporation (NYSE:DOV) last issued its quarterly earnings results 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. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. Dover Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.47 dividend. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 2.02%. The ex-dividend date was Tuesday, August 29th. Dover Corporation’s dividend payout ratio is currently 47.12%.
Dover Corporation 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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