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Bessemer Group Inc. cut its stake in shares of Dover Co. (NYSE:DOV – Get Rating) by 48.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,084 shares of the industrial products company’s stock after selling 6,792 shares during the period. Bessemer Group Inc.’s holdings in Dover were worth $959,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Dover by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock worth $2,650,899,000 after acquiring an additional 224,091 shares during the period. State Street Corp lifted its stake in shares of Dover by 3.5% during the 3rd quarter. State Street Corp now owns 6,867,691 shares of the industrial products company’s stock valued at $800,635,000 after buying an additional 231,562 shares in the last quarter. Bank of America Corp DE boosted its holdings in Dover by 0.9% in the 4th quarter. Bank of America Corp DE now owns 3,786,001 shares of the industrial products company’s stock worth $512,662,000 after buying an additional 33,496 shares during the period. Macquarie Group Ltd. increased its stake in Dover by 2.0% in the 3rd quarter. Macquarie Group Ltd. now owns 3,379,487 shares of the industrial products company’s stock worth $393,981,000 after buying an additional 64,950 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Dover by 27.7% during the third quarter. Nuveen Asset Management LLC now owns 2,607,299 shares of the industrial products company’s stock valued at $303,959,000 after acquiring an additional 565,772 shares during the period. Institutional investors own 85.52% of the company’s stock.
Dover Stock Performance
NYSE DOV opened at $141.14 on Friday. The company has a market cap of $19.74 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.13 and a beta of 1.35. The business’s 50 day moving average price is $142.34 and its 200-day moving average price is $143.49. Dover Co. has a fifty-two week low of $114.49 and a fifty-two week high of $160.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 1.32.
Dover (NYSE:DOV – Get Rating) last announced its earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share for the quarter, meeting the consensus estimate of $1.94. Dover had a net margin of 12.51% and a return on equity of 28.27%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts predict that Dover Co. will post 9 earnings per share for the current year.
Dover Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, May 30th. Dover’s dividend payout ratio is currently 26.93%.
Analyst Upgrades and Downgrades
DOV has been the topic of several recent analyst reports. Citigroup lifted their target price on Dover from $175.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Oppenheimer raised their target price on shares of Dover from $167.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, March 10th. StockNews.com began coverage on shares of Dover in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Bank of America raised their price objective on Dover from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 target price on shares of Dover in a research report on Thursday, March 9th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.31.
Insider Activity at Dover
In other news, CFO Brad M. Cerepak sold 17,769 shares of Dover stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $139.03, for a total transaction of $2,470,424.07. Following the completion of the sale, the chief financial officer now directly owns 54,569 shares in the company, valued at $7,586,728.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 17,769 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $139.03, for a total value of $2,470,424.07. Following the transaction, the chief financial officer now owns 54,569 shares of the company’s stock, valued at approximately $7,586,728.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 34,972 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $143.25, for a total transaction of $5,009,739.00. Following the completion of the sale, the chief financial officer now directly owns 73,878 shares of the company’s stock, valued at $10,583,023.50. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Dover Company Profile
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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.
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