Wedge Capital Management L L P NC increased its stake in shares of Dover Corporation (NYSE:DOV) by 16.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,793,184 shares of the industrial products company’s stock after buying an additional 248,620 shares during the period. Dover Corporation comprises 1.4% of Wedge Capital Management L L P NC’s holdings, making the stock its 10th largest position. Wedge Capital Management L L P NC’s holdings in Dover Corporation were worth $143,849,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Ledyard National Bank boosted its stake in shares of Dover Corporation by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock valued at $119,000 after buying an additional 1,200 shares during the period. Quantitative Systematic Strategies LLC boosted its stake in shares of Dover Corporation by 175.8% in the first quarter. Quantitative Systematic Strategies LLC now owns 39,431 shares of the industrial products company’s stock valued at $3,170,000 after buying an additional 25,136 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Dover Corporation by 0.9% in the first quarter. Nisa Investment Advisors LLC now owns 66,174 shares of the industrial products company’s stock valued at $5,317,000 after buying an additional 580 shares during the period. DnB Asset Management AS boosted its stake in shares of Dover Corporation by 2.7% in the first quarter. DnB Asset Management AS now owns 23,216 shares of the industrial products company’s stock valued at $1,865,000 after buying an additional 600 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Dover Corporation by 2.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 81,798 shares of the industrial products company’s stock valued at $6,572,000 after buying an additional 1,939 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Dover Corporation (NYSE:DOV) opened at 85.51 on Friday. Dover Corporation has a one year low of $65.50 and a one year high of $87.63. The firm has a market capitalization of $13.32 billion, a P/E ratio of 21.38 and a beta of 1.27. The stock’s 50 day moving average is $83.15 and its 200 day moving average is $80.90.

Dover Corporation (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm posted $0.76 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts predict that Dover Corporation will post $4.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.47 per share. This is an increase from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, August 29th. Dover Corporation’s payout ratio is currently 44.11%.

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Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, July 18th. BidaskClub cut Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. Seaport Global Securities restated a “buy” rating on shares of Dover Corporation in a research note on Monday, June 5th. Finally, CIBC restated a “hold” rating on shares of Dover Corporation in a research note on Wednesday, May 24th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover Corporation currently has a consensus rating of “Hold” and an average price target of $87.73.

In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael B. Stubbs sold 40,000 shares of Dover Corporation stock in a transaction on Friday, May 19th. The stock was sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $22,914,127.68. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Dover Corporation Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

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Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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