Texas Permanent School Fund lifted its stake in shares of Dover Co. (NYSE:DOV – Get Rating) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,041 shares of the industrial products company’s stock after buying an additional 365 shares during the period. Texas Permanent School Fund’s holdings in Dover were worth $2,310,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp raised its position 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 worth $2,358,000 after acquiring an additional 1,474 shares in the last quarter. Hallmark Capital Management Inc. bought a new position in Dover in the second quarter worth $33,000. Raymond James Trust N.A. lifted its position in Dover by 2.2% during the second quarter. Raymond James Trust N.A. now owns 5,772 shares of the industrial products company’s stock valued at $701,000 after buying an additional 127 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Dover by 1.6% during 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 buying an additional 835 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Dover by 41.1% in the 1st quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company’s stock worth $54,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 83.96% of the company’s stock.
Insiders Place Their Bets
In other news, VP Anthony K. Kosinski sold 2,203 shares of the 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 transaction, the vice president now directly owns 5,353 shares of the company’s stock, valued at approximately $675,441.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.
Dover Stock Up 0.2 %
Dover (NYSE:DOV – Get Rating) last released 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 company had revenue of $2.16 billion during 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%. Dover’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.98 EPS. Equities analysts predict that Dover Co. will post 8.44 EPS for the current fiscal year.
Dover Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 1.43%. The ex-dividend date is Tuesday, November 29th. Dover’s dividend payout ratio is currently 25.09%.
Analysts Set New Price Targets
DOV has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Dover from $137.00 to $140.00 in a research report on Friday, October 21st. Wells Fargo & Company boosted their price target on Dover to $135.00 in a research report on Friday, July 22nd. Morgan Stanley reduced their price objective on Dover from $139.00 to $138.00 and set an “equal weight” rating for the company in a research report on Monday, October 24th. Citigroup cut their target price on Dover from $156.00 to $149.00 in a research note on Monday, October 10th. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $147.09.
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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