STA Wealth Management LLC Invests $448,000 in Dover Corp (DOV) Stock

STA Wealth Management LLC acquired a new position in shares of Dover Corp (NYSE:DOV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,566 shares of the industrial products company’s stock, valued at approximately $448,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners purchased a new position in shares of Dover in the 1st quarter valued at about $239,625,000. Ceredex Value Advisors LLC purchased a new position in shares of Dover in the 1st quarter valued at about $45,125,000. Pzena Investment Management LLC increased its holdings in shares of Dover by 5.9% in the 4th quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock valued at $600,151,000 after purchasing an additional 328,864 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Dover by 408.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 307,688 shares of the industrial products company’s stock valued at $31,073,000 after purchasing an additional 247,188 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Dover by 2.4% in the 4th quarter. BlackRock Inc. now owns 10,116,808 shares of the industrial products company’s stock valued at $1,021,698,000 after purchasing an additional 234,543 shares in the last quarter. Institutional investors own 85.69% of the company’s stock.

In other Dover news, Director Mary A. Winston sold 2,500 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $78.86, for a total transaction of $197,150.00. Following the sale, the director now directly owns 15,055 shares of the company’s stock, valued at approximately $1,187,237.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jay L. Kloosterboer sold 14,745 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $78.67, for a total transaction of $1,159,989.15. Following the sale, the senior vice president now directly owns 23,096 shares in the company, valued at $1,816,962.32. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on DOV shares. Barclays started coverage on shares of Dover in a report on Thursday, February 15th. They issued an “overweight” rating and a $120.00 price target for the company. JPMorgan Chase & Co. cut shares of Dover from an “overweight” rating to a “neutral” rating in a research note on Monday, March 26th. Stifel Nicolaus lowered their price objective on shares of Dover from $115.00 to $102.00 and set a “hold” rating on the stock in a research note on Monday, April 16th. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Finally, BMO Capital Markets lowered their price objective on shares of Dover from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Dover currently has an average rating of “Hold” and an average price target of $105.82.

Shares of Dover opened at $78.06 on Thursday, according to MarketBeat. The stock has a market capitalization of $12.22 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. Dover Corp has a 52 week low of $62.10 and a 52 week high of $88.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.95 and a current ratio of 1.42.

Dover (NYSE:DOV) last released its quarterly earnings results on Friday, April 27th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Dover had a net margin of 9.71% and a return on equity of 16.48%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities research analysts expect that Dover Corp will post 4.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be paid a dividend of $0.47 per share. The ex-dividend date is Wednesday, May 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.41%. Dover’s dividend payout ratio is currently 46.65%.

Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply