FormulaFolio Investments LLC purchased a new position in shares of Dover Corporation (NYSE:DOV) during the third quarter, Holdings Channel reports. The institutional investor purchased 12,962 shares of the company’s stock, valued at approximately $955,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its position in Dover Corporation by 314.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,391 shares of the company’s stock worth $102,000 after buying an additional 1,055 shares in the last quarter. Penserra Capital Management LLC increased its position in Dover Corporation by 94.8% in the third quarter. Penserra Capital Management LLC now owns 1,784 shares of the company’s stock worth $130,000 after buying an additional 868 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Dover Corporation during the second quarter worth $143,000. Farmers National Bank bought a new position in Dover Corporation during the second quarter worth $188,000. Finally, Leavell Investment Management Inc. bought a new position in Dover Corporation during the third quarter worth $200,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.
Dover Corporation (NYSE:DOV) opened at 78.84 on Friday. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 24.26 and a beta of 1.18. The stock has a 50 day moving average price of $77.57 and a 200 day moving average price of $72.80. Dover Corporation has a 52 week low of $55.30 and a 52 week high of $82.32.
Dover Corporation (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.95 by $0.24. Dover Corporation had a net margin of 7.49% and a return on equity of 12.35%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company posted $0.81 earnings per share. Dover Corporation’s revenue for the quarter was down 89.5% on a year-over-year basis. On average, equities analysts forecast that Dover Corporation will post $3.58 earnings per share for the current year.
A number of research firms have weighed in on DOV. RBC Capital Markets set a $73.00 price target on Dover Corporation and gave the company a “hold” rating in a research note on Thursday, January 26th. Zacks Investment Research upgraded Dover Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, December 12th. Stifel Nicolaus lifted their target price on Dover Corporation from $76.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, January 27th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Dover Corporation in a research note on Thursday, December 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corporation in a research note on Thursday, December 15th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.19.
In other Dover Corporation news, insider Jay L. Kloosterboer sold 11,501 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $70.25, for a total transaction of $807,945.25. Following the completion of the transaction, the insider now directly owns 64,615 shares of the company’s stock, valued at $4,539,203.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.
Dover Corporation Company Profile
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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