MetLife Investment Advisors LLC lowered its position in Dover Corp (NYSE:DOV) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,533 shares of the industrial products company’s stock after selling 939 shares during the period. MetLife Investment Advisors LLC’s holdings in Dover were worth $3,333,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Boston Partners increased its holdings in Dover by 110.3% during the second quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock worth $375,601,000 after buying an additional 2,691,480 shares during the last quarter. Bank of America Corp DE increased its holdings in Dover by 15.9% during the second quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock worth $388,283,000 after buying an additional 726,930 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Dover by 7,946.7% during the second quarter. Cornerstone Wealth Management LLC now owns 319,697 shares of the industrial products company’s stock worth $4,384,000 after buying an additional 315,724 shares during the last quarter. KBC Group NV increased its holdings in Dover by 957.2% during the second quarter. KBC Group NV now owns 297,229 shares of the industrial products company’s stock worth $21,757,000 after buying an additional 269,113 shares during the last quarter. Finally, Lodge Hill Capital LLC purchased a new stake in Dover during the second quarter worth about $17,348,000. Institutional investors own 90.73% of the company’s stock.
NYSE:DOV traded up $0.84 on Friday, reaching $82.18. 1,997,904 shares of the company’s stock were exchanged, compared to its average volume of 1,711,858. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 1.05. Dover Corp has a 52 week low of $70.12 and a 52 week high of $90.26. The firm has a market capitalization of $13.08 billion, a PE ratio of 20.39, a P/E/G ratio of 1.53 and a beta of 1.34.
Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 19th. The industrial products company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. Dover had a net margin of 9.64% and a return on equity of 18.66%. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned $1.04 earnings per share. Dover’s revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Dover Corp will post 4.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a $0.48 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, August 30th. Dover’s dividend payout ratio (DPR) is 47.64%.
In other news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $82.75, for a total value of $4,137,500.00. Following the completion of the transaction, the director now directly owns 367,324 shares in the company, valued at $30,396,061. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.
A number of research firms recently issued reports on DOV. Citigroup raised their price objective on shares of Dover from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Friday. William Blair reiterated a “market perform” rating on shares of Dover in a research report on Tuesday, July 3rd. Oppenheimer reiterated a “hold” rating on shares of Dover in a research report on Thursday, July 19th. Finally, Gordon Haskett initiated coverage on shares of Dover in a research report on Friday. They set a “buy” rating for the company. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $90.77.
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 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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