Reilly Herbert Faulkner III boosted its stake in Dover Corp (NYSE:DOV) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,678 shares of the industrial products company’s stock after buying an additional 2,196 shares during the quarter. Dover makes up approximately 2.3% of Reilly Herbert Faulkner III’s portfolio, making the stock its 29th largest holding. Reilly Herbert Faulkner III’s holdings in Dover were worth $5,035,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Stifel Financial Corp raised its holdings in Dover by 1.5% in the 4th quarter. Stifel Financial Corp now owns 72,331 shares of the industrial products company’s stock valued at $5,107,000 after acquiring an additional 1,046 shares during the last quarter. Weiss Multi Strategy Advisers LLC raised its holdings in Dover by 41.5% in the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 75,000 shares of the industrial products company’s stock valued at $5,321,000 after acquiring an additional 22,000 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Dover by 1.2% in 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 during the last quarter. Goelzer Investment Management Inc. acquired a new stake in Dover in the 1st quarter valued at about $593,000. Finally, Raymond James Trust N.A. raised its holdings in Dover by 5.6% in the 4th quarter. Raymond James Trust N.A. now owns 2,962 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 158 shares during the last quarter. 85.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total value of $831,044.10. Following the completion of the sale, the vice president now owns 4,192 shares in the company, valued at approximately $385,454.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $90.53, for a total transaction of $383,937.73. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.12. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. Dover had a net margin of 7.69% and a return on equity of 28.48%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. On average, sell-side analysts expect that Dover Corp will post 5.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.02%. Dover’s dividend payout ratio is currently 38.63%.
A number of analysts have commented on DOV shares. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Tuesday, January 29th. SunTrust Banks increased their price objective on shares of Dover to $91.00 and gave the company a “hold” rating in a report on Wednesday, January 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Morgan Stanley increased their price objective on shares of Dover from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, March 8th. Finally, Barclays raised their price target on shares of Dover from $93.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.10.
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Dover Company Profile
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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