Principal Financial Group Inc. Purchases 616 Shares of Dover Corp. (DOV)
Principal Financial Group Inc. boosted its stake in shares of Dover Corp. (NYSE:DOV) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,023 shares of the company’s stock after buying an additional 616 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Dover Corp. worth $15,738,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DOV. Brown Advisory Inc. increased its position in Dover Corp. by 0.4% in the second quarter. Brown Advisory Inc. now owns 279,739 shares of the company’s stock valued at $19,391,000 after buying an additional 1,241 shares in the last quarter. Prudential Financial Inc. increased its position in Dover Corp. by 10.3% in the second quarter. Prudential Financial Inc. now owns 239,683 shares of the company’s stock valued at $16,615,000 after buying an additional 22,378 shares in the last quarter. Private Advisor Group LLC purchased a new position in Dover Corp. during the second quarter valued at approximately $211,000. NewFocus Financial Group LLC increased its position in Dover Corp. by 0.6% in the second quarter. NewFocus Financial Group LLC now owns 37,757 shares of the company’s stock valued at $2,617,000 after buying an additional 211 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Dover Corp. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,823,852 shares of the company’s stock valued at $126,411,000 after buying an additional 220,131 shares in the last quarter. 85.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Dover Corp. (NYSE:DOV) traded down 1.377% on Friday, reaching $72.675. 103,331 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $71.68 and its 200 day moving average price is $69.06. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 20.902 and a beta of 1.25.
Dover Corp. (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.85 by $0.09. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm earned $0.98 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that Dover Corp. will post $3.34 EPS for the current fiscal year.
The firm 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. The ex-dividend date was Monday, August 29th. This is a boost from Dover Corp.’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 2.39%. Dover Corp.’s payout ratio is 50.29%.
Several research firms recently commented on DOV. Susquehanna began coverage on Dover Corp. in a research note on Friday. They issued a “neutral” rating for the company. Bank of America Corp. reissued a “buy” rating and issued a $85.00 price objective on shares of Dover Corp. in a research note on Thursday. Zacks Investment Research cut Dover Corp. from a “buy” rating to a “hold” rating in a report on Thursday. Barclays PLC upped their target price on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a report on Monday, July 18th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $72.33.
In other news, VP C. Anderson Fincher sold 1,420 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $73.42, for a total value of $104,256.40. Following the sale, the vice president now directly owns 40,326 shares of the company’s stock, valued at approximately $2,960,734.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert Livingston sold 25,927 shares of the company’s stock in a transaction dated 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 completion of 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. 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.
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