Bp Plc raised its stake in shares of Dover Corporation (NYSE:DOV) by 175.0% during the fourth quarter, Holdings Channel reports. The firm owned 55,000 shares of the company’s stock after buying an additional 35,000 shares during the period. Bp Plc’s holdings in Dover Corporation were worth $4,121,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in DOV. Reilly Herbert Faulkner III bought a new position in Dover Corporation during the second quarter worth $2,613,000. Inverness Counsel LLC NY boosted its position in Dover Corporation by 13.6% in the second quarter. Inverness Counsel LLC NY now owns 1,004,919 shares of the company’s stock worth $69,661,000 after buying an additional 120,015 shares in the last quarter. Keating Investment Counselors Inc. boosted its position in Dover Corporation by 2.1% in the second quarter. Keating Investment Counselors Inc. now owns 61,750 shares of the company’s stock worth $4,281,000 after buying an additional 1,268 shares in the last quarter. Asset Advisors Corp boosted its position in Dover Corporation by 6.9% in the second quarter. Asset Advisors Corp now owns 132,450 shares of the company’s stock worth $9,181,000 after buying an additional 8,500 shares in the last quarter. Finally, Nuance Investments LLC boosted its position in Dover Corporation by 19.2% in the second quarter. Nuance Investments LLC now owns 22,452 shares of the company’s stock worth $1,556,000 after buying an additional 3,624 shares in the last quarter. 84.86% of the stock is currently owned by institutional investors and hedge funds.
Dover Corporation (NYSE:DOV) traded down 0.03% on Wednesday, hitting $77.63. 582,082 shares of the stock traded hands. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 23.89 and a beta of 1.18. Dover Corporation has a 12-month low of $55.30 and a 12-month high of $82.32. The firm’s 50-day moving average price is $77.71 and its 200-day moving average price is $72.88.
Dover Corporation (NYSE:DOV) last announced its earnings results 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 earned $1.80 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down 89.5% compared to the same quarter last year. On average, equities research analysts anticipate that Dover Corporation will post $3.58 EPS for the current fiscal year.
A number of research firms have weighed in on DOV. RBC Capital Markets set a $73.00 price objective on shares of Dover Corporation and gave the stock a “hold” rating in a research report on Thursday, January 26th. Zacks Investment Research upgraded shares of Dover Corporation from a “strong sell” rating to a “hold” rating in a research report on Monday, December 12th. Stifel Nicolaus increased their target price on shares of Dover Corporation from $72.00 to $76.00 and gave the company a “hold” rating in a research report on Tuesday, December 13th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Dover Corporation in a research report on Thursday, December 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Dover Corporation in a research report on Thursday, December 15th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Dover Corporation currently has an average rating of “Hold” and an average target price of $74.19.
In related news, insider Jay L. Kloosterboer sold 11,501 shares of the business’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $70.25, for a total value of $807,945.25. Following the completion of the transaction, the insider now owns 64,615 shares of the company’s stock, valued at approximately $4,539,203.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.
About Dover Corporation
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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