BTG Pactual Global Asset Management Ltd purchased a new position in shares of Dover Co. (NYSE:DOV – Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,521 shares of the industrial products company’s stock, valued at approximately $2,144,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of DOV. Fairfield Bush & CO. bought a new position in Dover during the first quarter worth about $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Dover during the first quarter worth approximately $938,000. Raymond James Trust N.A. lifted its position in Dover by 5.8% during the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock worth $886,000 after acquiring an additional 310 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Dover by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after acquiring an additional 561 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Dover by 6.1% during the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock worth $22,055,000 after acquiring an additional 8,054 shares during the last quarter. Institutional investors own 83.97% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 25th. Mizuho cut their price objective on shares of Dover from $165.00 to $162.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. JPMorgan Chase & Co. cut their price objective on shares of Dover from $171.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Royal Bank of Canada dropped their price target on shares of Dover from $149.00 to $145.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 25th. Finally, Wells Fargo & Company dropped their price target on shares of Dover from $152.00 to $140.00 in a research report on Monday, October 9th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.23.
Dover Price Performance
Shares of NYSE DOV traded up $0.25 during midday trading on Friday, reaching $137.79. 788,889 shares of the company were exchanged, compared to its average volume of 848,979. The stock’s 50-day moving average price is $137.12 and its 200-day moving average price is $141.25. The stock has a market cap of $19.28 billion, a P/E ratio of 18.93, a PEG ratio of 1.38 and a beta of 1.35. Dover Co. has a one year low of $127.25 and a one year high of $160.66. The company has a quick ratio of 1.00, a current ratio of 1.58 and a debt-to-equity ratio of 0.61.
Dover (NYSE:DOV – Get Free Report) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.02. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Dover had a net margin of 12.09% and a return on equity of 26.23%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.26 earnings per share. On average, sell-side analysts anticipate that Dover Co. will post 8.82 earnings per share for the current fiscal year.
Dover Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.04 annualized dividend and a dividend yield of 1.48%. Dover’s dividend payout ratio is 28.02%.
Insider Buying and Selling
In related news, CFO Brad M. Cerepak sold 4,631 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $142.00, for a total value of $657,602.00. Following the sale, the chief financial officer now owns 49,938 shares of the company’s stock, valued at $7,091,196. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.
Dover Company Profile
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's 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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