Tiaa Fsb Invests $3.71 Million in Dover Corporation (DOV)
Tiaa Fsb bought a new stake in Dover Corporation (NYSE:DOV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,278 shares of the industrial products company’s stock, valued at approximately $3,712,000.
Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Dover Corporation by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock worth $398,069,000 after acquiring an additional 511,469 shares in the last quarter. Bank of America Corp DE raised its stake in Dover Corporation by 9.4% during the first quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after acquiring an additional 553,136 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Dover Corporation by 7.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,584 shares of the industrial products company’s stock worth $690,000 after acquiring an additional 625 shares in the last quarter. Geneva Advisors LLC raised its stake in Dover Corporation by 25.3% during the second quarter. Geneva Advisors LLC now owns 5,763 shares of the industrial products company’s stock worth $462,000 after acquiring an additional 1,162 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Dover Corporation during the first quarter worth $6,512,000. Hedge funds and other institutional investors own 86.01% of the company’s stock.
Several research firms have issued reports on DOV. Morgan Stanley increased their price objective on Dover Corporation from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday. Zacks Investment Research lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and set a $95.00 price objective on shares of Dover Corporation in a research note on Tuesday, September 12th. Seaport Global Securities reiterated a “neutral” rating on shares of Dover Corporation in a research note on Wednesday, September 13th. Finally, BidaskClub lowered Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $91.15.
In related news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 275,344 shares in the company, valued at approximately $23,965,941.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.
Shares of Dover Corporation (NYSE DOV) traded up 0.28% during trading on Friday, reaching $92.30. The company’s stock had a trading volume of 76,311 shares. Dover Corporation has a 12 month low of $65.50 and a 12 month high of $92.49. The company’s 50 day moving average price is $86.06 and its 200 day moving average price is $82.19. The firm has a market cap of $14.37 billion, a PE ratio of 23.08 and a beta of 1.26.
Dover Corporation (NYSE:DOV) last released its quarterly earnings results on Thursday, July 20th. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.47 per share. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.04%. Dover Corporation’s dividend payout ratio is presently 47.12%.
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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