KCM Investment Advisors LLC Boosts Position in Dover Corporation (DOV)

KCM Investment Advisors LLC increased its holdings in Dover Corporation (NYSE:DOV) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,853 shares of the industrial products company’s stock after buying an additional 782 shares during the quarter. KCM Investment Advisors LLC’s holdings in Dover Corporation were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Farmers National Bank boosted its holdings in shares of Dover Corporation by 0.3% in the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock worth $220,000 after buying an additional 10 shares during the last quarter. Cleararc Capital Inc. boosted its holdings in shares of Dover Corporation by 0.4% in the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock worth $305,000 after buying an additional 15 shares during the last quarter. Citizens Financial Group Inc RI boosted its holdings in shares of Dover Corporation by 0.3% in the second quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock worth $365,000 after buying an additional 15 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Dover Corporation by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock worth $267,000 after buying an additional 23 shares during the last quarter. Finally, FineMark National Bank & Trust boosted its holdings in shares of Dover Corporation by 0.7% in the second quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock worth $264,000 after buying an additional 23 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on DOV shares. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Bank of America Corporation raised their price objective on shares of Dover Corporation from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Seaport Global Securities reissued a “buy” rating on shares of Dover Corporation in a report on Monday, June 5th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, July 18th. Finally, Robert W. Baird set a $91.00 price objective on shares of Dover Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover Corporation presently has a consensus rating of “Hold” and an average price target of $89.42.

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In other news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.50% of the company’s stock.

Dover Corporation (NYSE:DOV) traded down 0.26% during midday trading on Friday, hitting $89.81. 1,117,406 shares of the stock traded hands. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $90.35. The company’s 50 day moving average price is $85.69 and its 200 day moving average price is $82.03. The firm has a market cap of $13.99 billion, a PE ratio of 22.45 and a beta of 1.26.

Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) 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 firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue was up 18.2% on a year-over-year basis. Equities research analysts predict that Dover Corporation will post $4.29 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.47 per share. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.09%. Dover Corporation’s dividend payout ratio (DPR) is 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.

Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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