Yorktown Management & Research Co Inc held its position in Dover Corporation (NYSE:DOV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,050 shares of the industrial products company’s stock at the end of the second quarter. Yorktown Management & Research Co Inc’s holdings in Dover Corporation were worth $245,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Dover Corporation by 15.1% in the second 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. Tower Research Capital LLC TRC boosted its holdings in Dover Corporation by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,743 shares during the period. Penserra Capital Management LLC boosted its holdings in Dover Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after purchasing an additional 172 shares during the period. First Mercantile Trust Co. boosted its holdings in Dover Corporation by 10.1% in the second 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, Dixon Hubard Feinour & Brown Inc. VA acquired a new position in Dover Corporation in the first quarter worth $200,000. 86.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Dover Corporation (DOV) opened at 90.05 on Tuesday. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $90.35. The company has a market capitalization of $14.02 billion, a PE ratio of 22.51 and a beta of 1.26. The company’s 50 day moving average is $85.86 and its 200-day moving average is $82.11.
Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. On average, analysts expect that Dover Corporation will post $4.29 EPS 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 issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, August 29th. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s dividend payout ratio is presently 47.12%.
In other news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction 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 sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by corporate insiders.
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Several brokerages have recently issued reports on DOV. Robert W. Baird reissued a “buy” rating and set a $95.00 price target on shares of Dover Corporation in a report on Tuesday, September 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $90.00 price target (up previously from $89.00) on shares of Dover Corporation in a report on Thursday, July 6th. Stifel Nicolaus boosted their price target on shares of Dover Corporation from $88.00 to $91.00 and gave the company a “hold” rating in a report on Friday, July 21st. BMO Capital Markets raised shares of Dover Corporation from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $89.00 to $82.00 in a report on Thursday, June 8th. Finally, Zacks Investment Research raised shares of 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 seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $89.42.
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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