Rhumbline Advisers increased its position in Dover Corporation (NYSE:DOV) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 290,585 shares of the industrial products company’s stock after buying an additional 9,134 shares during the period. Rhumbline Advisers’ holdings in Dover Corporation were worth $23,311,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in DOV. First Mercantile Trust Co. boosted its position in Dover Corporation by 10.1% in the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after buying an additional 213 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Dover Corporation by 16.1% in the second quarter. Wedge Capital Management L L P NC now owns 1,793,184 shares of the industrial products company’s stock worth $143,849,000 after buying an additional 248,620 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Dover Corporation by 0.3% in the second quarter. Arizona State Retirement System now owns 38,572 shares of the industrial products company’s stock worth $3,094,000 after buying an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Dover Corporation by 3.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 559,494 shares of the industrial products company’s stock worth $44,883,000 after buying an additional 18,756 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Dover Corporation by 461.8% in the second quarter. Canada Pension Plan Investment Board now owns 399,600 shares of the industrial products company’s stock worth $32,056,000 after buying an additional 328,473 shares during the last quarter. 85.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Dover Corporation (NYSE:DOV) opened at 85.13 on Wednesday. Dover Corporation has a 52-week low of $65.50 and a 52-week high of $87.63. The company has a 50-day moving average price of $83.75 and a 200-day moving average price of $81.02. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 21.28 and a beta of 1.27.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.47 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.21%. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. Dover Corporation’s payout ratio is currently 44.11%.

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A number of equities research analysts have recently issued reports on DOV shares. Bank of America Corporation boosted their target price on shares of Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Seaport Global Securities reaffirmed a “buy” rating on shares of Dover Corporation in a research note on Monday, June 5th. BidaskClub raised Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Tuesday, July 18th. Finally, Barclays PLC boosted their price target on Dover Corporation from $78.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.73.

In related news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was 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 owns 275,344 shares in the company, valued at $23,965,941.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $83.22, for a total value of $3,328,800.00. Following the sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $22,914,127.68. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

About Dover Corporation

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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