US Bancorp DE decreased its position in Dover Corp. (NYSE:DOV) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,929 shares of the company’s stock after selling 1,064 shares during the period. US Bancorp DE’s holdings in Dover Corp. were worth $13,691,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Shinko Asset Management Co. Ltd. raised its position in Dover Corp. by 0.6% in the second quarter. Shinko Asset Management Co. Ltd. now owns 4,247 shares of the company’s stock worth $294,000 after buying an additional 25 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Dover Corp. by 0.4% in the second quarter. Archford Capital Strategies LLC now owns 11,957 shares of the company’s stock worth $829,000 after buying an additional 44 shares during the last quarter. Ngam Advisors L.P. boosted its stake in shares of Dover Corp. by 0.5% in the second quarter. Ngam Advisors L.P. now owns 12,291 shares of the company’s stock worth $852,000 after buying an additional 59 shares during the last quarter. Phocas Financial Corp. boosted its stake in shares of 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 last quarter. Finally, Peachtree Investment Advisors Inc. boosted its stake in shares of 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 last quarter. 84.08% of the stock is owned by institutional investors.
Shares of Dover Corp. (NYSE:DOV) traded down 0.84% during mid-day trading on Monday, reaching $71.24. 249,556 shares of the company traded hands. The company’s 50 day moving average is $68.84 and its 200 day moving average is $70.00. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The stock has a market capitalization of $11.07 billion, a price-to-earnings ratio of 22.82 and a beta of 1.18.
Dover Corp. (NYSE:DOV) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp. had a return on equity of 12.93% and a net margin of 7.29%. Dover Corp.’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. On average, equities analysts forecast that Dover Corp. will post $3.02 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, November 28th. Dover Corp.’s payout ratio is 56.05%.
DOV has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Dover Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Wednesday, October 5th. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a research note on Thursday, October 6th. Stifel Nicolaus raised their price objective on shares of Dover Corp. from $65.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, October 20th. Barclays PLC set a $68.00 price objective on shares of Dover Corp. and gave the stock a “hold” rating in a research note on Tuesday, October 11th. Finally, Citigroup Inc. dropped their price objective on shares of Dover Corp. from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 11th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.18.
In other Dover Corp. news, VP Sandra A. Arkell sold 565 shares of the stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $68.73, for a total value of $38,832.45. Following the completion of the transaction, the vice president now owns 2,216 shares in the company, valued at $152,305.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay L. Kloosterboer sold 11,501 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $70.25, for a total value of $807,945.25. Following the completion of the transaction, the insider now owns 64,615 shares of the company’s stock, valued at approximately $4,539,203.75. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
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.