Rhumbline Advisers Has $32.41 Million Stock Position in Dover Co. (NYSE:DOV)

Rhumbline Advisers grew its stake in Dover Co. (NYSE:DOVGet Rating) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 267,115 shares of the industrial products company’s stock after purchasing an additional 18,284 shares during the period. Rhumbline Advisers owned approximately 0.19% of Dover worth $32,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of Dover by 10.9% in the 1st quarter. Van ECK Associates Corp now owns 15,030 shares of the industrial products company’s stock valued at $2,358,000 after purchasing an additional 1,474 shares during the period. Hallmark Capital Management Inc. bought a new stake in shares of Dover in the 2nd quarter valued at approximately $33,000. Raymond James Trust N.A. grew its stake in shares of Dover by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 5,772 shares of the industrial products company’s stock valued at $701,000 after purchasing an additional 127 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Dover by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 52,883 shares of the industrial products company’s stock valued at $8,297,000 after purchasing an additional 835 shares during the period. Finally, MAI Capital Management grew its stake in shares of Dover by 34.3% in the 2nd quarter. MAI Capital Management now owns 4,700 shares of the industrial products company’s stock valued at $570,000 after purchasing an additional 1,200 shares during the period. 83.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on DOV. Mizuho decreased their price target on Dover from $155.00 to $143.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. JPMorgan Chase & Co. upped their price objective on Dover from $137.00 to $140.00 in a report on Friday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Dover from $132.00 to $137.00 and gave the stock a “hold” rating in a report on Thursday, October 13th. Royal Bank of Canada reduced their price objective on Dover from $131.00 to $128.00 and set a “sector perform” rating on the stock in a report on Friday, October 21st. Finally, Morgan Stanley reduced their price objective on Dover from $139.00 to $138.00 and set an “equal weight” rating on the stock in a report on Monday, October 24th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Dover presently has an average rating of “Hold” and a consensus target price of $147.09.

Dover Stock Performance

DOV stock opened at $142.76 on Thursday. The business’s fifty day moving average is $127.31 and its 200-day moving average is $128.29. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 0.71. The company has a market cap of $20.04 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35. Dover Co. has a twelve month low of $114.49 and a twelve month high of $184.04.

Dover (NYSE:DOVGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The industrial products company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.20 by $0.06. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 27.62% and a net margin of 13.93%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 EPS. Equities research analysts forecast that Dover Co. will post 8.44 EPS for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, November 29th. Dover’s payout ratio is presently 25.09%.

Insider Buying and Selling

In related news, VP Anthony K. Kosinski sold 2,203 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $126.18, for a total transaction of $277,974.54. Following the sale, the vice president now owns 5,353 shares of the company’s stock, valued at approximately $675,441.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Dover Profile

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Further Reading

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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