Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its position in shares of Dover Corp (NYSE:DOV) by 45.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,303 shares of the industrial products company’s stock after selling 13,569 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Dover were worth $1,529,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL lifted its holdings in shares of Dover by 1.5% in the 1st quarter. Gofen & Glossberg LLC IL now owns 8,627 shares of the industrial products company’s stock worth $809,000 after purchasing an additional 127 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Dover by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 41,726 shares of the industrial products company’s stock valued at $3,912,000 after acquiring an additional 495 shares in the last quarter. Washington Trust Bank lifted its stake in Dover by 22.7% during the 1st quarter. Washington Trust Bank now owns 1,104 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 204 shares in the last quarter. Sageworth Trust Co bought a new position in Dover during the 1st quarter valued at $137,000. Finally, Legacy Advisors LLC bought a new position in Dover during the 1st quarter valued at $56,000. 86.28% of the stock is owned by institutional investors and hedge funds.
In other Dover news, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $91.95, for a total transaction of $831,044.10. Following the completion of the transaction, the vice president now owns 4,192 shares of the company’s stock, valued at approximately $385,454.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William Spurgeon sold 13,102 shares of Dover stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $87.19, for a total value of $1,142,363.38. Following the transaction, the vice president now directly owns 6,393 shares of the company’s stock, valued at approximately $557,405.67. The disclosure for this sale can be found here. Insiders have sold a total of 48,200 shares of company stock valued at $4,277,800 in the last ninety days. Insiders own 1.70% of the company’s stock.
Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.12. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.69 billion. Dover had a return on equity of 28.48% and a net margin of 7.69%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. Sell-side analysts expect that Dover Corp will post 5.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.93%. Dover’s payout ratio is presently 38.63%.
DOV has been the topic of several recent analyst reports. Citigroup set a $113.00 price objective on Dover and gave the company a “buy” rating in a research note on Monday, April 22nd. UBS Group upgraded Dover from a “neutral” rating to a “buy” rating and set a $76.35 price objective on the stock in a research note on Thursday, January 10th. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Wednesday, March 27th. Morgan Stanley raised their price objective on Dover from $92.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, March 8th. Finally, Deutsche Bank set a $102.00 price objective on Dover and gave the company a “hold” rating in a research note on Monday, April 22nd. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $94.10.
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Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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