BB&T Corp lifted its position in shares of Dover Corp (NYSE:DOV) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,329 shares of the industrial products company’s stock after purchasing an additional 1,357 shares during the quarter. BB&T Corp’s holdings in Dover were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in shares of Dover by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,761 shares of the industrial products company’s stock worth $480,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Dover by 0.9% during the fourth quarter. Trust Co. of Vermont now owns 14,585 shares of the industrial products company’s stock worth $1,035,000 after acquiring an additional 124 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Dover by 0.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 15,044 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 127 shares during the last quarter. Gofen & Glossberg LLC IL raised its position in shares of Dover by 1.5% during the first quarter. Gofen & Glossberg LLC IL now owns 8,627 shares of the industrial products company’s stock worth $809,000 after acquiring an additional 127 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Dover by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 15,442 shares of the industrial products company’s stock worth $1,095,000 after acquiring an additional 136 shares during the last quarter. 85.85% of the stock is currently owned by institutional investors.
In related news, VP Anthony K. Kosinski sold 4,241 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Carrie L. Anderson sold 9,038 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $91.95, for a total value of $831,044.10. Following the sale, the vice president now owns 4,192 shares in the company, valued at approximately $385,454.40. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
DOV has been the subject of a number of recent research reports. Robert W. Baird downgraded Dover from an “outperform” rating to a “neutral” rating in a research report on Monday, April 22nd. Barclays lifted their price objective on Dover from $93.00 to $99.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Deutsche Bank set a $102.00 price objective on Dover and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, ValuEngine raised Dover from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Dover currently has a consensus rating of “Hold” and a consensus target price of $94.10.
NYSE:DOV traded down $2.15 on Wednesday, reaching $93.04. The company’s stock had a trading volume of 1,102,300 shares, compared to its average volume of 1,064,107. Dover Corp has a 1-year low of $65.83 and a 1-year high of $99.46. The company has a current ratio of 1.30, a quick ratio of 0.87 and a debt-to-equity ratio of 1.04. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.43 and a beta of 1.49.
Dover (NYSE:DOV) last posted its earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.12. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Dover had a return on equity of 28.48% and a net margin of 7.69%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that Dover Corp will post 5.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.06%. Dover’s dividend payout ratio is currently 38.63%.
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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 through 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 and 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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