Heartland Bank & Trust Co raised its stake in Dover Co. (NYSE:DOV – Get Rating) by 25.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,999 shares of the industrial products company’s stock after purchasing an additional 606 shares during the quarter. Heartland Bank & Trust Co’s holdings in Dover were worth $471,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Fulton Bank N.A. raised its position in Dover by 1.2% in the fourth quarter. Fulton Bank N.A. now owns 4,809 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 58 shares during the period. Allworth Financial LP increased its position in shares of Dover by 45.2% during the fourth quarter. Allworth Financial LP now owns 196 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 61 shares during the last quarter. Regentatlantic Capital LLC increased its position in shares of Dover by 2.7% during the fourth quarter. Regentatlantic Capital LLC now owns 2,286 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 61 shares during the last quarter. Securian Asset Management Inc. increased its position in shares of Dover by 0.5% during the fourth quarter. Securian Asset Management Inc. now owns 12,062 shares of the industrial products company’s stock worth $2,190,000 after acquiring an additional 64 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Dover by 2.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,514 shares of the industrial products company’s stock worth $638,000 after acquiring an additional 72 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors.
DOV has been the topic of a number of analyst reports. Royal Bank of Canada dropped their target price on Dover from $170.00 to $162.00 and set a “sector perform” rating on the stock in a research report on Friday, April 22nd. Robert W. Baird lowered their price objective on Dover from $194.00 to $169.00 in a report on Thursday, April 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Dover from $187.00 to $182.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Wells Fargo & Company lowered their price objective on Dover from $161.00 to $159.00 and set an “equal weight” rating for the company in a report on Friday, April 22nd. Finally, Barclays lowered their price objective on Dover from $155.00 to $140.00 and set an “equal weight” rating for the company in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $174.00.
Dover (NYSE:DOV – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 27.82% and a net margin of 13.81%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 earnings per share. Sell-side analysts forecast that Dover Co. will post 8.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.00 dividend on an annualized basis and a yield of 1.67%. Dover’s dividend payout ratio (DPR) is 26.04%.
In other news, SVP David J. Malinas bought 350 shares of the business’s stock in a transaction on Monday, April 25th. The stock was purchased at an average cost of $139.44 per share, for a total transaction of $48,804.00. Following the completion of the transaction, the senior vice president now directly owns 2,744 shares of the company’s stock, valued at approximately $382,623.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
About Dover (Get Rating)
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.
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