First Mercantile Trust Co. lowered its position in Dover Corp. (NYSE:DOV) by 84.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the company’s stock after selling 9,257 shares during the period. First Mercantile Trust Co.’s holdings in Dover Corp. were worth $118,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Mizuho Asset Management Co. Ltd. increased its position in shares of Dover Corp. by 65.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,038 shares of the company’s stock worth $141,000 after buying an additional 803 shares during the period. Hallmark Capital Management Inc. acquired a new position in shares of Dover Corp. during the second quarter worth about $149,000. Feltz Wealth PLAN Inc. acquired a new position in shares of Dover Corp. during the second quarter worth about $150,000. Trust Department MB Financial Bank N A increased its position in shares of Dover Corp. by 67.0% in the second quarter. Trust Department MB Financial Bank N A now owns 2,567 shares of the company’s stock worth $180,000 after buying an additional 1,030 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Dover Corp. during the second quarter worth about $203,000. 85.59% of the stock is currently owned by institutional investors.
Dover Corp. (NYSE:DOV) opened at 73.69 on Friday. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 21.19 and a beta of 1.25. Dover Corp. has a 12 month low of $50.91 and a 12 month high of $74.90. The stock’s 50 day moving average price is $71.68 and its 200 day moving average price is $69.06.
Dover Corp. (NYSE:DOV) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.09. Dover Corp. had a net margin of 8.03% and a return on equity of 14.27%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Dover Corp. will post $3.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, August 29th. This is a positive change from Dover Corp.’s previous quarterly dividend of $0.42. Dover Corp.’s payout ratio is currently 50.29%.
A number of research analysts have issued reports on DOV shares. Zacks Investment Research downgraded Dover Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Sanford C. Bernstein restated an “outperform” rating on shares of Dover Corp. in a research note on Monday, June 27th. Barclays PLC upped their price objective on Dover Corp. from $65.00 to $71.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. Susquehanna started coverage on Dover Corp. in a research note on Friday. They issued a “neutral” rating for the company. Finally, Bank of America Corp. restated a “buy” rating and issued a $85.00 price objective on shares of Dover Corp. in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $72.33.
In other news, CEO Robert Livingston sold 25,927 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $69.24, for a total value of $1,795,185.48. Following the transaction, the chief executive officer now directly owns 192,630 shares in the company, valued at $13,337,701.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Spurgeon sold 17,170 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $71.65, for a total value of $1,230,230.50. Following the completion of the transaction, the vice president now owns 59,163 shares in the company, valued at $4,239,028.95. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Dover Corp. Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp. (NYSE:DOV).
Receive News & Ratings for Dover Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp. and related companies with MarketBeat.com's FREE daily email newsletter.