Caxton Associates LP acquired a new stake in shares of Dover Corp (NYSE:DOV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,966 shares of the industrial products company’s stock, valued at approximately $423,000.
A number of other large investors also recently made changes to their positions in the business. Mackay Shields LLC increased its position in Dover by 0.9% during the fourth quarter. Mackay Shields LLC now owns 39,188 shares of the industrial products company’s stock valued at $2,781,000 after acquiring an additional 347 shares during the last quarter. LMR Partners LLP purchased a new stake in Dover during the fourth quarter valued at $931,000. Geode Capital Management LLC increased its position in Dover by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 1,908,781 shares of the industrial products company’s stock valued at $135,190,000 after acquiring an additional 122,881 shares during the last quarter. Kinneret Advisory LLC purchased a new stake in Dover during the fourth quarter valued at $131,000. Finally, Fort L.P. increased its position in Dover by 82.8% during the fourth quarter. Fort L.P. now owns 20,521 shares of the industrial products company’s stock valued at $1,456,000 after acquiring an additional 9,292 shares during the last quarter. Institutional investors and hedge funds own 85.73% of the company’s stock.
A number of research firms recently commented on DOV. SunTrust Banks upped their price objective on Dover to $91.00 and gave the company a “hold” rating in a research report on Wednesday, January 30th. They noted that the move was a valuation call. Oppenheimer reiterated a “hold” rating on shares of Dover in a research report on Tuesday, January 29th. Barclays reduced their price objective on Dover from $97.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, December 17th. UBS Group upgraded 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. Finally, Zacks Investment Research lowered Dover from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $89.80.
NYSE:DOV opened at $90.69 on Friday. Dover Corp has a 52-week low of $65.83 and a 52-week high of $93.20. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.37 and a quick ratio of 0.96. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.32 and a beta of 1.49.
Dover (NYSE:DOV) last released its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.14. Dover had a return on equity of 24.90% and a net margin of 7.84%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. Dover’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts predict that Dover Corp will post 5.72 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Wednesday, February 27th. Dover’s dividend payout ratio (DPR) is 38.63%.
In other news, VP William Spurgeon sold 13,102 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $87.19, for a total value of $1,142,363.38. Following the completion of the transaction, the vice president now owns 6,393 shares of the company’s stock, valued at $557,405.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jay L. Kloosterboer sold 12,363 shares of the company’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $87.53, for a total value of $1,082,133.39. Following the completion of the transaction, the senior vice president now directly owns 23,827 shares of the company’s stock, valued at approximately $2,085,577.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,200 shares of company stock valued at $4,277,800. Corporate insiders own 2.60% of the company’s stock.
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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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