Prudential Financial Inc. lowered its holdings in Dover Corp (NYSE:DOV) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 181,580 shares of the industrial products company’s stock after selling 3,896 shares during the quarter. Prudential Financial Inc.’s holdings in Dover were worth $12,883,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of DOV. Ashler Capital LLC bought a new stake in Dover in the 3rd quarter valued at about $44,080,000. AXA boosted its holdings in Dover by 619.8% in the 3rd quarter. AXA now owns 337,137 shares of the industrial products company’s stock valued at $29,847,000 after purchasing an additional 290,300 shares during the period. JPMorgan Chase & Co. boosted its holdings in Dover by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock valued at $781,489,000 after purchasing an additional 288,630 shares during the period. Neuberger Berman Group LLC boosted its holdings in Dover by 41.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 981,926 shares of the industrial products company’s stock valued at $86,930,000 after purchasing an additional 288,540 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new stake in Dover in the 3rd quarter valued at about $22,849,000. 87.09% of the stock is owned by hedge funds and other institutional investors.
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DOV has been the subject of several analyst reports. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Barclays dropped their target price on shares of Dover from $97.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, December 17th. Morgan Stanley cut shares of Dover from an “overweight” rating to an “equal” rating and dropped their target price for the company from $94.00 to $89.00 in a research report on Tuesday, December 18th. Wolfe Research upgraded shares of Dover from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 8th. Finally, UBS Group upgraded shares of Dover from a “neutral” rating to a “buy” rating and set a $76.35 price objective for the company in a research report on Thursday, January 10th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $89.18.
In related news, SVP Jay L. Kloosterboer sold 12,363 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $87.53, for a total transaction of $1,082,133.39. Following the transaction, the senior vice president now directly owns 23,827 shares of the company’s stock, valued at $2,085,577.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William Spurgeon sold 13,102 shares of the stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $87.19, for a total transaction of $1,142,363.38. Following the transaction, the vice president now directly owns 6,393 shares in the company, valued at $557,405.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,200 shares of company stock worth $4,277,800. 2.60% of the stock is owned by insiders.
Shares of NYSE DOV opened at $90.98 on Monday. The firm has a market cap of $13.38 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.34 and a beta of 1.51. Dover Corp has a 12-month low of $65.83 and a 12-month high of $93.20. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.96 and a current ratio of 1.37.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.14. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Dover had a net margin of 7.84% and a return on equity of 24.90%. Dover’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 earnings per share. Equities research analysts predict that Dover Corp will post 5.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, February 27th. Dover’s dividend payout ratio is presently 38.63%.
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Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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