Dean Investment Associates LLC trimmed its position in shares of Dover Co. (NYSE:DOV) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,357 shares of the industrial products company’s stock after selling 1,201 shares during the quarter. Dean Investment Associates LLC’s holdings in Dover were worth $3,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors Inc. acquired a new stake in shares of Dover during the 4th quarter valued at about $207,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Dover by 25.1% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,241 shares of the industrial products company’s stock valued at $1,035,000 after buying an additional 2,056 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in shares of Dover during the 4th quarter valued at about $20,823,000. Advisor Group Inc. lifted its holdings in shares of Dover by 63.4% during the 4th quarter. Advisor Group Inc. now owns 10,168 shares of the industrial products company’s stock valued at $1,027,000 after buying an additional 3,947 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Dover by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 436,093 shares of the industrial products company’s stock valued at $44,041,000 after buying an additional 20,517 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.
Get Dover alerts:Shares of NYSE DOV opened at $80.39 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.95 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.26 and a beta of 1.32. Dover Co. has a 12 month low of $62.10 and a 12 month high of $88.11.
Dover (NYSE:DOV) last issued its quarterly earnings results on Friday, April 27th. The industrial products company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.89 billion. Dover had a return on equity of 16.48% and a net margin of 9.71%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. research analysts forecast that Dover Co. will post 4.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.34%. The ex-dividend date is Wednesday, May 30th. Dover’s dividend payout ratio is currently 46.65%.
DOV has been the subject of several research reports. BMO Capital Markets reiterated a “buy” rating on shares of Dover in a report on Friday, January 26th. Barclays reduced their target price on Dover from $120.00 to $113.00 and set an “overweight” rating for the company in a report on Monday, April 30th. ValuEngine lowered Dover from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Seaport Global Securities restated a “hold” rating and issued a $110.00 target price on shares of Dover in a report on Friday, February 2nd. Finally, JPMorgan Chase lowered Dover from an “overweight” rating to a “neutral” rating in a report on Monday, March 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Dover presently has an average rating of “Hold” and an average target price of $104.92.
In other Dover news, insider Stephen Gary Kennon sold 15,702 shares of Dover stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total value of $1,601,761.02. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Patrick Burns purchased 510 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average cost of $97.51 per share, for a total transaction of $49,730.10. Following the completion of the transaction, the senior vice president now owns 1,883 shares in the company, valued at $183,611.33. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 19,897 shares of company stock worth $2,031,745. Company insiders own 2.60% of the company’s stock.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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