Louisiana State Employees Retirement System lowered its stake in shares of Dover Corp. (NYSE:DOV) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,200 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Dover Corp. were worth $707,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shinko Asset Management Co. Ltd. boosted its position in shares of Dover Corp. by 0.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 4,247 shares of the company’s stock valued at $294,000 after buying an additional 25 shares in the last quarter. Phocas Financial Corp. boosted its stake in Dover Corp. by 0.6% in the first quarter. Phocas Financial Corp. now owns 13,496 shares of the company’s stock worth $868,000 after buying an additional 85 shares during the period. Peachtree Investment Advisors Inc. boosted its stake in Dover Corp. by 0.5% in the second quarter. Peachtree Investment Advisors Inc. now owns 20,180 shares of the company’s stock worth $1,399,000 after buying an additional 95 shares during the period. Citizens Financial Group Inc RI boosted its stake in Dover Corp. by 1.8% in the first quarter. Citizens Financial Group Inc RI now owns 5,789 shares of the company’s stock worth $372,000 after buying an additional 100 shares during the period. Finally, CIBC World Markets Inc. boosted its stake in Dover Corp. by 4.0% in the second quarter. CIBC World Markets Inc. now owns 5,200 shares of the company’s stock worth $360,000 after buying an additional 200 shares during the period. Institutional investors own 85.59% of the company’s stock.
Dover Corp. (NYSE:DOV) traded up 0.57% during midday trading on Wednesday, hitting $67.29. The company had a trading volume of 1,562,376 shares. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 19.35 and a beta of 1.25. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The stock has a 50 day moving average of $71.20 and a 200 day moving average of $69.15.
Dover Corp. (NYSE:DOV) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The firm earned $1.69 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts anticipate that Dover Corp. will post $3.34 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.44 per share. This is an increase from Dover Corp.’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, August 29th. This represents a $1.76 annualized dividend and a yield of 2.62%. Dover Corp.’s dividend payout ratio (DPR) is presently 50.29%.
A number of research firms have recently commented on DOV. Citigroup Inc. cut their price objective on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays PLC set a $68.00 price objective on Dover Corp. and gave the company a “hold” rating in a research report on Tuesday. Zacks Investment Research cut Dover Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a research report on Monday, June 27th. Finally, Susquehanna began coverage on Dover Corp. in a research report on Friday, October 7th. They issued a “neutral” rating and a $77.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $72.19.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total transaction of $104,256.40. Following the completion of the transaction, the vice president now owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Livingston sold 25,927 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total value of $1,795,185.48. Following the transaction, the chief executive officer now directly owns 192,630 shares of the company’s stock, valued at approximately $13,337,701.20. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
About Dover Corp.
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.