Dover Corp. (DOV) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its stake in Dover Corp. (NYSE:DOV) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,279,141 shares of the company’s stock after buying an additional 6,222 shares during the period. Bank of New York Mellon Corp’s holdings in Dover Corp. were worth $241,477,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. PGGM Investments increased 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. Rainier Investment Management LLC purchased a new stake in Dover Corp. during the second quarter valued at about $11,999,000. British Columbia Investment Management Corp increased its stake in Dover Corp. by 19.3% in the third quarter. British Columbia Investment Management Corp now owns 117,739 shares of the company’s stock valued at $8,670,000 after buying an additional 19,084 shares in the last quarter. BB&T Corp increased its stake in Dover Corp. by 5,871.5% in the second quarter. BB&T Corp now owns 198,733 shares of the company’s stock valued at $13,776,000 after buying an additional 195,405 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Dover Corp. by 355.6% in the second quarter. Citigroup Inc. now owns 289,442 shares of the company’s stock valued at $20,065,000 after buying an additional 225,906 shares in the last quarter. 84.08% of the stock is owned by institutional investors.
Shares of Dover Corp. (NYSE:DOV) opened at 72.61 on Thursday. Dover Corp. has a one year low of $50.91 and a one year high of $74.90. The firm’s 50-day moving average is $68.80 and its 200-day moving average is $70.09. The company has a market cap of $11.28 billion, a price-to-earnings ratio of 23.26 and a beta of 1.18.
Dover Corp. (NYSE:DOV) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Dover Corp. had a net margin of 7.29% and a return on equity of 12.93%. The firm earned $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts expect that Dover Corp. will post $3.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, November 28th. This represents a $1.76 dividend on an annualized basis and a yield of 2.42%. Dover Corp.’s dividend payout ratio (DPR) is 56.05%.
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DOV has been the subject of several recent analyst reports. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price objective on shares of Dover Corp. in a report on Thursday, October 6th. Zacks Investment Research raised shares of Dover Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Wednesday, October 5th. Stifel Nicolaus upped their price objective on shares of Dover Corp. from $65.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, October 20th. Susquehanna initiated coverage on shares of Dover Corp. in a report on Friday, October 7th. They issued a “neutral” rating and a $77.00 price target for the company. Finally, Barclays PLC set a $68.00 price target on shares of Dover Corp. and gave the company a “hold” rating in a report on Tuesday, October 11th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $72.18.
In other news, insider Jay L. Kloosterboer sold 11,501 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $70.25, for a total value of $807,945.25. Following the completion of the sale, the insider now owns 64,615 shares of the company’s stock, valued at $4,539,203.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sandra A. Arkell sold 565 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $68.73, for a total transaction of $38,832.45. Following the completion of the sale, the vice president now directly owns 2,216 shares of the company’s stock, valued at approximately $152,305.68. 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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