People s United Financial Inc. lowered its holdings in Dover Corp (NYSE:DOV) by 7.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,547 shares of the industrial products company’s stock after selling 1,178 shares during the quarter. People s United Financial Inc.’s holdings in Dover were worth $1,288,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Fort L.P. purchased a new stake in Dover during the 2nd quarter valued at approximately $118,000. Centaurus Financial Inc. purchased a new stake in Dover during the 2nd quarter valued at approximately $127,000. Piedmont Investment Advisors LLC purchased a new stake in Dover during the 2nd quarter valued at approximately $133,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Dover during the 3rd quarter valued at approximately $202,000. Finally, Reliance Trust Co. of Delaware purchased a new stake in Dover during the 3rd quarter valued at approximately $203,000. Institutional investors own 90.84% of the company’s stock.
In other Dover news, Director Mary A. Winston sold 2,000 shares of Dover stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total transaction of $164,580.00. Following the transaction, the director now directly owns 13,055 shares in the company, valued at approximately $1,074,295.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.
Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.07. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Dover had a return on equity of 21.22% and a net margin of 9.69%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. As a group, analysts anticipate that Dover Corp will post 4.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, November 29th. Dover’s payout ratio is 47.64%.
Several analysts have commented on the company. Stifel Nicolaus upped their price objective on Dover from $85.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, September 12th. ValuEngine raised Dover from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Zacks Investment Research downgraded Dover from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. UBS Group raised their price objective on Dover from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Finally, Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Monday, October 22nd. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. Dover has an average rating of “Hold” and a consensus price target of $89.77.
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.
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