BB&T Corp Raises Stake in Dover Corp. (DOV)
BB&T Corp raised its stake in shares of Dover Corp. (NYSE:DOV) by 5,871.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,733 shares of the company’s stock after buying an additional 195,405 shares during the period. BB&T Corp’s holdings in Dover Corp. were worth $13,776,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. PGGM Investments raised its stake in Dover Corp. by 12.0% in the second quarter. PGGM Investments now owns 588,341 shares of the company’s stock valued at $40,784,000 after buying an additional 63,049 shares in the last quarter. Geode Capital Management LLC increased its position in 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. Pictet Asset Management Ltd. increased its position in 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. National Pension Service increased its position in Dover Corp. by 4.4% in the first quarter. National Pension Service now owns 114,897 shares of the company’s stock valued at $7,391,000 after buying an additional 4,883 shares during the last quarter. Finally, Diligent Investors LLC increased its position in Dover Corp. by 1.3% in the second quarter. Diligent Investors LLC now owns 11,375 shares of the company’s stock valued at $788,000 after buying an additional 151 shares during the last quarter. 85.56% of the stock is owned by hedge funds and other institutional investors.
Shares of Dover Corp. (NYSE:DOV) traded up 3.15% during trading on Wednesday, hitting $69.67. The stock had a trading volume of 1,070,192 shares. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The company’s 50 day moving average price is $70.29 and its 200 day moving average price is $69.26. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 20.04 and a beta of 1.25.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business had revenue of $1.71 billion for the quarter. During the same period last year, the company earned $1.14 EPS. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts expect that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Dover Corp. from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 13th. Barclays PLC set a $68.00 price target on Dover Corp. and gave the stock a “hold” rating in a research note on Tuesday, October 11th. Citigroup Inc. dropped their price target on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating for the company in a research note on Tuesday, October 11th. Susquehanna assumed coverage on Dover Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $77.00 price target for the company. Finally, Bank of America Corp. restated a “buy” rating and issued a $85.00 price target on shares of Dover Corp. in a research note on Thursday, October 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $72.19.
In other news, VP William Spurgeon sold 17,170 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $71.65, for a total value of $1,230,230.50. Following the transaction, the vice president now owns 59,163 shares of the company’s stock, valued at approximately $4,239,028.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert Livingston sold 25,927 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $69.24, for a total value of $1,795,185.48. Following the completion of the transaction, the chief executive officer now directly owns 192,630 shares in the company, valued at approximately $13,337,701.20. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
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.
Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp. (NYSE:DOV).
Receive News & Ratings for Dover Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp. and related companies with MarketBeat.com's FREE daily email newsletter.