Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Dover Co. (NYSE:DOV – Get Rating) by 77.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,584 shares of the industrial products company’s stock after purchasing an additional 4,605 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Dover were worth $1,284,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC bought a new stake in Dover in the second quarter worth about $25,000. TCI Wealth Advisors Inc. raised its position in Dover by 115.8% in the second quarter. TCI Wealth Advisors Inc. now owns 259 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 139 shares in the last quarter. Hallmark Capital Management Inc. bought a new stake in Dover in the second quarter worth about $33,000. Clear Street Markets LLC raised its position in Dover by 411.9% in the second quarter. Clear Street Markets LLC now owns 302 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 243 shares in the last quarter. Finally, Fairfield Bush & CO. bought a new stake in Dover in the first quarter worth about $48,000. 83.96% of the stock is currently owned by institutional investors.
In other news, VP Anthony K. Kosinski sold 2,203 shares of Dover stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $126.18, for a total transaction of $277,974.54. Following the completion of the sale, the vice president now directly owns 5,353 shares in the company, valued at approximately $675,441.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.
Dover Trading Up 0.4 %
Dover (NYSE:DOV – Get Rating) last released its earnings results on Thursday, October 20th. The industrial products company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.06. Dover had a return on equity of 27.62% and a net margin of 13.93%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the business posted $1.98 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that Dover Co. will post 8.44 earnings per share for the current fiscal year.
Dover Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.505 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.02 annualized dividend and a dividend yield of 1.41%. Dover’s dividend payout ratio is 25.09%.
Wall Street Analysts Forecast Growth
DOV has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Dover from $132.00 to $137.00 and gave the stock a “hold” rating in a research report on Thursday, October 13th. Morgan Stanley dropped their price target on Dover from $139.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Monday, October 24th. Citigroup dropped their price target on Dover from $156.00 to $149.00 in a research note on Monday, October 10th. Royal Bank of Canada dropped their price target on Dover from $131.00 to $128.00 and set a “sector perform” rating on the stock in a research note on Friday, October 21st. Finally, JPMorgan Chase & Co. lifted their price target on Dover from $137.00 to $140.00 in a research note on Friday, October 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.
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