The Pictet Asset Management Ltd. Boosts Stake in Dover Corp (DOV)

The Pictet Asset Management Ltd. Boosts Stake in Dover Corp (DOV)

Other institutional investors also recently added to or reduced their stakes in the company. First Bank & Trust boosted its position in Dover Corp by 15.5% in the first quarter. First Bank & Trust now owns 1,326 shares of the industrial products company’s stock worth $106,000 after buying an additional 178 shares during the period. FNY Partners Fund LP bought a new position in Dover Corp during the fourth quarter worth about $112,000. Johnson Financial Group Inc. boosted its position in shares of Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $117,000 after buying an additional 40 shares during the last quarter. Ledyard National Bank boosted its position in shares of Dover Corp by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock valued at $119,000 after buying an additional 1,200 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of Dover Corp by 16.8% in the first quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock valued at $170,000 after buying an additional 304 shares during the last quarter. 84.57% of the stock is currently owned by institutional investors.

Pictet Asset Management Ltd. increased its position in Dover Corp (NYSE:DOV) by 6.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 95,865 shares of the industrial products company’s stock after buying an additional 6,000 shares during the period. Pictet Asset Management Ltd. owned approximately 0.06% of Dover Corp worth $7,703,000 at the end of the most recent quarter.

Shares of Dover Corp (DOV) opened at 83.15 on Monday. The stock’s 50 day moving average is $80.63 and its 200 day moving average is $78.34. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 22.47 and a beta of 1.18. Dover Corp has a 52 week low of $63.93 and a 52 week high of $84.40.

Dover Corp (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 20th. The industrial products company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.48. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that Dover Corp will post $4.15 EPS for the current year. The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.76 dividend on an annualized basis and a yield of 2.12%. Dover Corp’s dividend payout ratio (DPR) is 53.99%.

Dover Corp (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 20th. The industrial products company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.48. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.77 billion. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that Dover Corp will post $4.15 EPS for the current year. Several brokerages recently weighed in on DOV. Citigroup Inc raised their price target on shares of Dover Corp from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, April 11th. CIBC reaffirmed a “hold” rating on shares of Dover Corp in a research report on Wednesday, May 24th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Dover Corp in a research report on Tuesday, May 23rd. Stifel Nicolaus raised their price target on shares of Dover Corp from $85.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, April 21st. Finally, Barclays PLC raised their price target on shares of Dover Corp from $78.00 to $79.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 19th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $84.55.

In other Dover Corp news, Director Michael B. Stubbs sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $83.22, for a total transaction of $3,328,800.00. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $22,914,127.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP C. Anderson Fincher sold 15,638 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $79.85, for a total transaction of $1,248,694.30. Following the sale, the vice president now directly owns 32,842 shares of the company’s stock, valued at $2,622,433.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,502 shares of company stock worth $5,216,444. 2.60% of the stock is owned by insiders. About Dover Corp

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DOV”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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