Sonora Investment Management LLC Grows Position in Dover Co. (NYSE:DOV)
Sonora Investment Management LLC raised its holdings in Dover Co. (NYSE:DOV) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,797 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Sonora Investment Management LLC’s holdings in Dover were worth $353,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in DOV. Lloyd Advisory Services LLC. purchased a new stake in shares of Dover in the third quarter valued at about $28,000. Orion Portfolio Solutions LLC raised its stake in shares of Dover by 113.8% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 496 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 264 shares during the period. CWM LLC raised its stake in shares of Dover by 60.2% in the 3rd quarter. CWM LLC now owns 511 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 192 shares during the period. Jeppson Wealth Management LLC purchased a new position in shares of Dover in the 3rd quarter valued at $57,000. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of Dover in the 3rd quarter valued at $57,000. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Anthony K. Kosinski sold 489 shares of Dover stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $116.05, for a total value of $56,748.45. Following the sale, the vice president now directly owns 2,506 shares in the company, valued at approximately $290,821.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 23,135 shares of Dover stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $126.00, for a total transaction of $2,915,010.00. Over the last quarter, insiders sold 61,495 shares of company stock worth $7,620,627. 0.98% of the stock is currently owned by insiders.
Shares of NYSE DOV traded down $2.48 during midday trading on Wednesday, hitting $127.12. The company’s stock had a trading volume of 1,151,844 shares, compared to its average volume of 702,484. Dover Co. has a 1-year low of $62.95 and a 1-year high of $130.41. The firm’s fifty day moving average price is $124.21 and its 200-day moving average price is $113.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.00 and a current ratio of 1.47. The firm has a market cap of $18.32 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.96 and a beta of 1.32.
Dover (NYSE:DOV) last posted its quarterly earnings results on Tuesday, October 20th. The industrial products company reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.28. Dover had a net margin of 10.02% and a return on equity of 26.73%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $1.60 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, research analysts predict that Dover Co. will post 5.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 14th. Investors of record on Monday, November 30th were given a $0.495 dividend. The ex-dividend date was Friday, November 27th. This represents a $1.98 annualized dividend and a yield of 1.56%. Dover’s dividend payout ratio is presently 33.39%.
Dover Company Profile
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle services, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.
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