Dover Corporation (DOV) Stake Boosted by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. lifted its holdings in Dover Corporation (NYSE:DOV) by 60.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,478 shares of the industrial products company’s stock after acquiring an additional 2,062 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Dover Corporation were worth $440,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in shares of Dover Corporation by 15.1% in the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 227 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Dover Corporation by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,743 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Dover Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock worth $158,000 after acquiring an additional 172 shares during the period. First Mercantile Trust Co. boosted its stake in shares of 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 acquiring an additional 213 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in shares of Dover Corporation in the first quarter worth about $200,000. 86.06% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.50% of the company’s stock.
Shares of Dover Corporation (DOV) opened at 89.81 on Friday. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $90.35. The firm’s 50-day moving average price is $85.69 and its 200-day moving average price is $82.03. The stock has a market capitalization of $13.99 billion, a P/E ratio of 22.45 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last issued its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.03. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. On average, equities research analysts forecast that Dover Corporation will post $4.29 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.47 per share. This is a boost from Dover Corporation’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, August 29th. Dover Corporation’s payout ratio is currently 47.12%.
A number of research firms have recently weighed in on DOV. Seaport Global Securities reaffirmed a “neutral” rating on shares of Dover Corporation in a research note on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Dover Corporation in a research note on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $91.00 price objective on shares of Dover Corporation in a research note on Wednesday, September 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Dover Corporation in a research note on Sunday, August 27th. Finally, Zacks Investment Research lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $89.42.
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.
Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corporation (NYSE:DOV).
Receive News & Ratings for Dover Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corporation and related companies with MarketBeat.com's FREE daily email newsletter.