Louisiana State Employees Retirement System trimmed its position in Dover Corp (NYSE:DOV) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,700 shares of the industrial products company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Dover were worth $546,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Dover by 39.9% during the second quarter. FMR LLC now owns 152,997 shares of the industrial products company’s stock worth $11,200,000 after buying an additional 43,645 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Dover by 18.5% during the second quarter. OppenheimerFunds Inc. now owns 8,494 shares of the industrial products company’s stock worth $622,000 after buying an additional 1,327 shares during the period. Jane Street Group LLC increased its stake in shares of Dover by 122.4% during the second quarter. Jane Street Group LLC now owns 8,855 shares of the industrial products company’s stock worth $648,000 after buying an additional 48,452 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Dover by 52.8% during the second quarter. Advisors Asset Management Inc. now owns 17,676 shares of the industrial products company’s stock worth $1,294,000 after buying an additional 6,106 shares during the period. Finally, Schroder Investment Management Group increased its stake in shares of Dover by 80.2% during the second quarter. Schroder Investment Management Group now owns 699,811 shares of the industrial products company’s stock worth $50,925,000 after buying an additional 311,500 shares during the period. Institutional investors own 87.09% of the company’s stock.
Shares of Dover stock opened at $91.57 on Friday. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.33 and a beta of 1.51. Dover Corp has a 52 week low of $65.83 and a 52 week high of $92.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.96 and a current ratio of 1.37.
Dover (NYSE:DOV) last announced its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.14. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Dover had a net margin of 7.84% and a return on equity of 24.90%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 earnings per share. Analysts anticipate that Dover Corp will post 5.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, February 27th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.10%. Dover’s dividend payout ratio (DPR) is presently 38.63%.
A number of research firms recently weighed in on DOV. SunTrust Banks upped their target price on shares of Dover to $91.00 and gave the stock a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Oppenheimer restated a “hold” rating on shares of Dover in a research note on Tuesday, January 29th. UBS Group upgraded shares of Dover from a “neutral” rating to a “buy” rating and set a $76.35 target price on the stock in a research note on Thursday, January 10th. Barclays cut their target price on shares of Dover from $97.00 to $93.00 and set an “overweight” rating on the stock in a research note on Monday, December 17th. Finally, Zacks Investment Research lowered shares of Dover from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Dover currently has a consensus rating of “Hold” and a consensus price target of $89.18.
In other news, VP William Spurgeon sold 13,102 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $87.19, for a total transaction of $1,142,363.38. Following the transaction, the vice president now directly owns 6,393 shares in the company, valued at $557,405.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jay L. Kloosterboer sold 12,363 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $87.53, for a total transaction of $1,082,133.39. Following the transaction, the senior vice president now owns 23,827 shares in the company, valued at $2,085,577.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,921 shares of company stock worth $3,062,818. Insiders own 2.60% of the company’s stock.
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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