National Planning Corp Invests $203,000 in Dover Corp. (DOV)
National Planning Corp acquired a new stake in shares of Dover Corp. (NYSE:DOV) during the second quarter, Holdings Channel reports. The firm acquired 2,918 shares of the company’s stock, valued at approximately $203,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Dover Corp. by 0.3% in the second quarter. Principal Financial Group Inc. now owns 227,023 shares of the company’s stock valued at $15,738,000 after buying an additional 616 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Dover Corp. by 0.4% in the second quarter. Brown Advisory Inc. now owns 279,739 shares of the company’s stock worth $19,391,000 after buying an additional 1,241 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Dover Corp. by 10.3% in the second quarter. Prudential Financial Inc. now owns 239,683 shares of the company’s stock worth $16,615,000 after buying an additional 22,378 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Dover Corp. during the second quarter worth approximately $211,000. Finally, NewFocus Financial Group LLC increased its position in shares of Dover Corp. by 0.6% in the second quarter. NewFocus Financial Group LLC now owns 37,757 shares of the company’s stock worth $2,617,000 after buying an additional 211 shares during the last quarter. 85.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Dover Corp. (NYSE:DOV) traded up 0.4186% during mid-day trading on Tuesday, reaching $68.9675. 114,239 shares of the company’s stock traded hands. Dover Corp. has a 52 week low of $50.91 and a 52 week high of $74.90. The company’s 50 day moving average is $72.14 and its 200-day moving average is $68.37. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 19.8353 and a beta of 1.37.
Dover Corp. (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Equities analysts expect that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.44 per share. This is a positive change 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 dividend yield of 2.56%. Dover Corp.’s dividend payout ratio (DPR) is presently 50.29%.
A number of equities analysts have commented on DOV shares. TheStreet upgraded Dover Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, May 24th. Bank of America Corp. upgraded Dover Corp. from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, May 26th. Robert W. Baird upgraded Dover Corp. from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $66.00 to $86.00 in a research note on Wednesday, June 8th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Dover Corp. in a research note on Wednesday, June 8th. Finally, Citigroup Inc. lifted their target price on Dover Corp. from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $71.00.
In other news, VP C. Anderson Fincher sold 1,420 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total transaction of $104,256.40. Following the sale, the vice president now directly owns 40,326 shares of the company’s stock, valued at $2,960,734.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Livingston sold 25,927 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total transaction of $1,795,185.48. Following the sale, the chief executive officer now directly owns 192,630 shares in the company, valued at $13,337,701.20. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
Dover Corp. Company Profile
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.
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