Skip to content
Gulf International Bank UK Ltd lessened its stake in shares of Dover Co. (NYSE:DOV – Get Rating) by 23.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,424 shares of the industrial products company’s stock after selling 5,513 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Dover were worth $2,799,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of Dover in the first quarter worth $48,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Dover in the first quarter worth $938,000. Raymond James Trust N.A. grew its stake in shares of Dover by 5.8% in the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock worth $886,000 after purchasing an additional 310 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Dover by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after purchasing an additional 561 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Dover by 6.1% in the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock worth $22,055,000 after purchasing an additional 8,054 shares during the last quarter. Institutional investors own 83.77% of the company’s stock.
Dover Trading Down 1.0 %
Shares of Dover stock opened at $141.13 on Friday. The stock has a fifty day simple moving average of $142.20 and a 200 day simple moving average of $143.68. Dover Co. has a 12-month low of $114.49 and a 12-month high of $160.66. The company has a market capitalization of $19.74 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.17 and a beta of 1.35. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66.
Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.94. Dover had a return on equity of 28.27% and a net margin of 12.51%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the company posted $1.90 earnings per share. Dover’s revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Dover Co. will post 9 earnings per share for the current fiscal year.
Dover Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a dividend of $0.505 per share. The ex-dividend date was Tuesday, May 30th. This represents a $2.02 annualized dividend and a yield of 1.43%. Dover’s dividend payout ratio (DPR) is currently 26.93%.
Insiders Place Their Bets
In other Dover news, CFO Brad M. Cerepak sold 17,769 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $139.03, for a total value of $2,470,424.07. Following the transaction, the chief financial officer now owns 54,569 shares of the company’s stock, valued at $7,586,728.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Dover in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Oppenheimer boosted their target price on shares of Dover from $167.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, March 10th. Robert W. Baird dropped their target price on shares of Dover from $176.00 to $170.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Dover from $147.00 to $145.00 and set a “hold” rating on the stock in a report on Wednesday, April 12th. Finally, Citigroup boosted their target price on shares of Dover from $175.00 to $184.00 and gave the company a “buy” rating in a report on Monday, March 6th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.31.
About Dover
(Get Rating)
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company’s Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
Read More
Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Co. (NYSE:DOV – Get Rating).
Receive News & Ratings for Dover Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Dover and related companies with MarketBeat.com’s FREE daily email newsletter.
