Dover Corp. (DOV) Position Cut by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. lowered its stake in shares of Dover Corp. (NYSE:DOV) by 30.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,630 shares of the company’s stock after selling 14,138 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Dover Corp. were worth $2,193,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. HBK Investments L P bought a new position in shares of Dover Corp. during the first quarter valued at approximately $2,930,000. 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 valued at $81,526,000 after buying an additional 23,865 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Dover Corp. by 126.5% in the first quarter. Riverhead Capital Management LLC now owns 79,336 shares of the company’s stock valued at $5,105,000 after buying an additional 44,312 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 valued at $5,443,000 after buying an additional 2,600 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Dover Corp. during the first quarter valued at approximately $402,000. 85.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dover Corp. (NYSE:DOV) traded up 1.65% during trading on Friday, hitting $67.74. The stock had a trading volume of 904,308 shares. The stock has a 50 day moving average of $70.80 and a 200 day moving average of $69.12. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The firm has a market cap of $10.51 billion, a PE ratio of 19.48 and a beta of 1.25.
Dover Corp. (NYSE:DOV) last posted its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. On average, equities analysts anticipate that Dover Corp. will post $3.34 EPS for the current year.
The company also recently announced 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, August 29th. Dover Corp.’s dividend payout ratio is currently 50.29%.
Several research analysts have commented on the company. Susquehanna assumed coverage on Dover Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $77.00 target price on the stock. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 target price on shares of Dover Corp. in a report on Thursday, October 6th. Zacks Investment Research downgraded Dover Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 6th. Barclays PLC lifted their target price on Dover Corp. from $65.00 to $71.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. Dover Corp. currently has an average rating of “Hold” and a consensus price target of $72.19.
In other Dover Corp. news, VP C. Anderson Fincher sold 1,420 shares of the firm’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 completion of the sale, the vice president now directly owns 40,326 shares in the company, valued at $2,960,734.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Livingston sold 25,927 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 192,630 shares of the company’s stock, valued at $13,337,701.20. The disclosure for this sale can be found here. 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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