Dover (DOV) Sets New 1-Year High at $98.65
Dover Corporation (NYSE:DOV) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $98.65 and last traded at $96.71, with a volume of 867300 shares. The stock had previously closed at $96.28.
A number of research analysts recently issued reports on DOV shares. Robert W. Baird set a $91.00 price target on shares of Dover and gave the stock a “buy” rating in a research note on Thursday, August 24th. BMO Capital Markets reiterated a “buy” rating and issued a $94.00 price target on shares of Dover in a research note on Sunday, August 27th. SunTrust Banks reiterated a “hold” rating and issued a $90.00 price target on shares of Dover in a research note on Thursday, October 12th. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, Citigroup restated a “neutral” rating and set a $96.00 price objective (up previously from $90.00) on shares of Dover in a research report on Monday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $94.69.
The company has a market capitalization of $15,070.00, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.88 and a beta of 1.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.87 and a current ratio of 1.32.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.88 annualized dividend and a yield of 1.94%. Dover’s dividend payout ratio is currently 43.72%.
In other news, Director Michael B. Stubbs sold 41,505 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $26,342,160.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael B. Stubbs sold 8,495 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $96.30, for a total transaction of $818,068.50. Following the transaction, the director now directly owns 275,344 shares in the company, valued at $26,515,627.20. The disclosure for this sale can be found here. Insiders sold a total of 65,276 shares of company stock worth $6,234,042 over the last three months. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in shares of Dover 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 buying an additional 227 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Dover 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 buying an additional 1,347 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Dover by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 258 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Dover by 10.1% in the 2nd quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 213 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank purchased a new position in Dover in the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 84.60% of the company’s stock.
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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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