Dover Corp (DOV) Stake Lessened by B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund

B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lowered its position in shares of Dover Corp (NYSE:DOV) by 55.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,567 shares of the industrial products company’s stock after selling 8,252 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Dover were worth $481,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DOV. Baird Financial Group Inc. increased its stake in Dover by 10.0% in the 2nd quarter. Baird Financial Group Inc. now owns 6,905 shares of the industrial products company’s stock valued at $505,000 after buying an additional 629 shares during the period. United Capital Financial Advisers LLC increased its stake in Dover by 23.0% in the 1st quarter. United Capital Financial Advisers LLC now owns 3,532 shares of the industrial products company’s stock valued at $347,000 after buying an additional 660 shares during the period. Nisa Investment Advisors LLC increased its stake in Dover by 1.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 67,485 shares of the industrial products company’s stock valued at $4,940,000 after buying an additional 685 shares during the period. BB&T Securities LLC increased its stake in Dover by 7.3% in the 2nd quarter. BB&T Securities LLC now owns 10,094 shares of the industrial products company’s stock valued at $738,000 after buying an additional 689 shares during the period. Finally, Butensky & Cohen Financial Security Inc. increased its stake in Dover by 4.1% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 18,637 shares of the industrial products company’s stock valued at $1,364,000 after buying an additional 740 shares during the period. Institutional investors and hedge funds own 90.92% of the company’s stock.

DOV stock opened at $88.48 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. Dover Corp has a 12 month low of $70.12 and a 12 month high of $88.71.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.09. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.78 billion. Dover had a net margin of 9.64% and a return on equity of 18.66%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 earnings per share. equities research analysts predict that Dover Corp will post 4.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.17%. This is an increase from Dover’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, August 30th. Dover’s payout ratio is currently 47.64%.

DOV has been the topic of several research reports. ValuEngine upgraded shares of Dover from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. MED initiated coverage on shares of Dover in a research note on Thursday, July 12th. They issued a “hold” rating and a $79.00 price objective on the stock. Barclays dropped their price objective on shares of Dover from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Zacks Investment Research upgraded shares of Dover from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Morgan Stanley dropped their price objective on shares of Dover from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, July 20th. Thirteen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Dover currently has a consensus rating of “Hold” and an average price target of $92.77.

In related news, Director Kristiane C. Graham sold 50,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the completion of the sale, the director now directly owns 367,324 shares of the company’s stock, valued at approximately $30,396,061. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.50% of the stock is currently owned by corporate insiders.

Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

Further Reading: Index Funds

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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