Harvey Investment Co. LLC Maintains Stake in Dover Corp. (DOV)
Harvey Investment Co. LLC maintained its position in Dover Corp. (NYSE:DOV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,198 shares of the company’s stock at the end of the second quarter. Harvey Investment Co. LLC’s holdings in Dover Corp. were worth $846,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. PGGM Investments increased its position in shares of Dover Corp. by 12.0% in the second quarter. PGGM Investments now owns 588,341 shares of the company’s stock worth $40,784,000 after buying an additional 63,049 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Dover Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,269,848 shares of the company’s stock worth $81,526,000 after buying an additional 23,865 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Dover Corp. by 3.0% in the first quarter. Pictet Asset Management Ltd. now owns 89,544 shares of the company’s stock worth $5,443,000 after buying an additional 2,600 shares during the last quarter. National Pension Service increased its position in shares of Dover Corp. by 4.4% in the first quarter. National Pension Service now owns 114,897 shares of the company’s stock worth $7,391,000 after buying an additional 4,883 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of Dover Corp. by 1.1% in the first quarter. Champlain Investment Partners LLC now owns 956,445 shares of the company’s stock worth $61,528,000 after buying an additional 10,475 shares during the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.
Dover Corp. (NYSE:DOV) traded up 1.64% on Wednesday, reaching $73.80. 616,418 shares of the company traded hands. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The company has a market capitalization of $11.45 billion, a P/E ratio of 21.23 and a beta of 1.25. The company has a 50-day moving average price of $71.70 and a 200-day moving average price of $68.99.
Dover Corp. (NYSE:DOV) last announced 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 company 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%. Dover Corp.’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. Equities research analysts expect that Dover Corp. will post $3.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders 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. This represents a $1.76 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Monday, August 29th. Dover Corp.’s dividend payout ratio (DPR) is currently 50.29%.
A number of equities analysts recently commented on DOV shares. Zacks Investment Research upgraded shares of Dover Corp. from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Wednesday. Barclays PLC boosted their target price on shares of Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Dover Corp. in a research note on Wednesday, June 8th. Citigroup Inc. boosted their target price on shares of Dover Corp. from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 8th. Finally, Sanford C. Bernstein upgraded shares of Dover Corp. from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $75.00 to $87.00 in a research note on Friday, June 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.67.
In other Dover Corp. news, VP Paul Goldberg sold 1,800 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $72.13, for a total transaction of $129,834.00. Following the completion of the transaction, the vice president now directly owns 11,778 shares of the company’s stock, valued at approximately $849,547.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction 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 $13,337,701.20. The disclosure for this sale can be found here. Company 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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