Moody National Bank Trust Division purchased a new stake in Dover Co. (NYSE:DOV – Get Rating) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,830 shares of the industrial products company’s stock, valued at approximately $222,000.
Several other institutional investors also recently bought and sold shares of DOV. Geode Capital Management LLC increased its stake in Dover by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 2,656,593 shares of the industrial products company’s stock valued at $481,176,000 after buying an additional 121,884 shares during the period. American International Group Inc. increased its stake in Dover by 0.5% in the 4th quarter. American International Group Inc. now owns 43,192 shares of the industrial products company’s stock valued at $7,844,000 after buying an additional 205 shares during the period. Invesco Ltd. increased its stake in Dover by 8.4% in the 4th quarter. Invesco Ltd. now owns 1,212,379 shares of the industrial products company’s stock valued at $220,169,000 after buying an additional 94,451 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Dover by 170.9% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,536 shares of the industrial products company’s stock worth $461,000 after purchasing an additional 1,600 shares during the period. Finally, Hilltop Holdings Inc. grew its stake in shares of Dover by 6.4% during the 4th quarter. Hilltop Holdings Inc. now owns 1,737 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 105 shares during the period. 83.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, July 8th. Morgan Stanley lowered their price target on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 31st. Wells Fargo & Company upped their price target on shares of Dover to $135.00 in a research note on Friday, July 22nd. Mizuho lowered their price objective on shares of Dover from $175.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $161.17.
Dover Price Performance
Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.07. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.18 billion. Dover had a net margin of 13.90% and a return on equity of 26.94%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.06 EPS. Research analysts expect that Dover Co. will post 8.5 EPS for the current year.
Dover Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.505 per share. This is a positive change from Dover’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, August 30th. Dover’s dividend payout ratio is presently 25.70%.
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.
- Get a free copy of the StockNews.com research report on Dover (DOV)
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