BNP Paribas Arbitrage SA Purchases 192,355 Shares of Dover Corporation (DOV)
BNP Paribas Arbitrage SA boosted its position in Dover Corporation (NYSE:DOV) by 156.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,574 shares of the industrial products company’s stock after buying an additional 192,355 shares during the period. BNP Paribas Arbitrage SA’s holdings in Dover Corporation were worth $25,315,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of Dover Corporation by 7,265.4% in the first quarter. First Manhattan Co. now owns 26,810 shares of the industrial products company’s stock worth $1,974,000 after buying an additional 26,446 shares during the period. BTIM Corp. raised its position in shares of Dover Corporation by 7.7% in the first quarter. BTIM Corp. now owns 17,550 shares of the industrial products company’s stock worth $1,411,000 after buying an additional 1,250 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Dover Corporation by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,127 shares of the industrial products company’s stock worth $310,000 after buying an additional 150 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of Dover Corporation by 32.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 14,205 shares of the industrial products company’s stock worth $1,141,000 after buying an additional 3,477 shares during the period. Finally, Diversified Trust Co raised its position in shares of Dover Corporation by 0.8% in the first quarter. Diversified Trust Co now owns 4,554 shares of the industrial products company’s stock worth $366,000 after buying an additional 37 shares during the period. Institutional investors own 85.73% of the company’s stock.
Shares of Dover Corporation (NYSE DOV) opened at 84.04 on Friday. The firm has a market cap of $13.09 billion, a P/E ratio of 21.01 and a beta of 1.27. Dover Corporation has a one year low of $65.50 and a one year high of $87.63. The firm has a 50 day moving average price of $84.09 and a 200-day moving average price of $81.07.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. Analysts forecast that Dover Corporation will post $4.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.47 per share. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. This represents a $1.88 dividend on an annualized basis and a yield of 2.24%. Dover Corporation’s payout ratio is presently 44.11%.
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A number of equities analysts have recently 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 on the stock in a research note on Tuesday, July 18th. BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reiterated 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Dover Corporation presently has an average rating of “Hold” and an average target price of $87.73.
In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the business’s 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 sale, the director now owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.
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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