BNP Paribas Arbitrage SA Sells 204,326 Shares of Dover Corporation (DOV)
BNP Paribas Arbitrage SA decreased its stake in Dover Corporation (NYSE:DOV) by 64.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 111,248 shares of the industrial products company’s stock after selling 204,326 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.07% of Dover Corporation worth $10,167,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted its holdings in shares of Dover Corporation by 15.1% in the 2nd quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 227 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Dover Corporation by 388.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,347 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Dover Corporation by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 258 shares during the period. First Mercantile Trust Co. boosted its holdings in shares of Dover Corporation by 10.1% in the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 213 shares during the period. Finally, Cape Cod Five Cents Savings Bank purchased a new position in shares of Dover Corporation in the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 85.01% of the company’s stock.
In other news, VP Paul Goldberg sold 4,400 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $95.25, for a total value of $419,100.00. Following the completion of the transaction, the vice president now directly owns 4,070 shares of the company’s stock, valued at approximately $387,667.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael B. Stubbs sold 41,505 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total value of $3,970,783.35. Following the completion of the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,400 shares of company stock valued at $5,207,952. 2.50% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on the company. Zacks Investment Research cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $96.00 target price on shares of Dover Corporation in a report on Monday, October 23rd. Stifel Nicolaus reiterated a “hold” rating and issued a $92.00 target price on shares of Dover Corporation in a report on Tuesday, October 17th. BidaskClub cut Dover Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $106.00 price objective (up previously from $97.00) on shares of Dover Corporation in a report on Monday, October 2nd. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $94.69.
Shares of Dover Corporation (NYSE DOV) traded down $0.18 during midday trading on Wednesday, reaching $93.61. The company’s stock had a trading volume of 949,600 shares, compared to its average volume of 1,241,950. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The company has a market cap of $14,611.65, a price-to-earnings ratio of 25.98, a PEG ratio of 1.83 and a beta of 1.28. Dover Corporation has a 1-year low of $68.10 and a 1-year high of $97.09.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.05. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. Dover Corporation’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. equities research analysts anticipate that Dover Corporation will post 3.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, November 29th. Dover Corporation’s dividend payout ratio (DPR) is presently 43.72%.
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.
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