Exxonmobil Investment Management Inc. TX Sells 528 Shares of Dover Corp. (DOV)
Exxonmobil Investment Management Inc. TX reduced its position in shares of Dover Corp. (NYSE:DOV) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 39,632 shares of the company’s stock after selling 528 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Dover Corp. were worth $2,919,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Dover Corp. by 2.8% in the second quarter. Vanguard Group Inc. now owns 14,555,176 shares of the company’s stock worth $1,008,965,000 after buying an additional 393,727 shares during the last quarter. Pzena Investment Management LLC increased its position in Dover Corp. by 1.0% in the second quarter. Pzena Investment Management LLC now owns 6,194,201 shares of the company’s stock worth $429,382,000 after buying an additional 59,245 shares during the last quarter. Bank of New York Mellon Corp increased its position in Dover Corp. by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 3,272,919 shares of the company’s stock worth $226,877,000 after buying an additional 580,562 shares during the last quarter. BlackRock Fund Advisors increased its position in Dover Corp. by 1.2% in the second quarter. BlackRock Fund Advisors now owns 2,460,830 shares of the company’s stock worth $170,585,000 after buying an additional 30,342 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Dover Corp. by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,823,852 shares of the company’s stock worth $126,411,000 after buying an additional 220,131 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.
Dover Corp. (NYSE:DOV) traded up 4.06% during trading on Wednesday, reaching $72.61. The company had a trading volume of 2,827,681 shares. Dover Corp. has a 52-week low of $50.91 and a 52-week high of $74.90. The company has a 50-day moving average of $69.05 and a 200-day moving average of $70.15. The firm has a market capitalization of $11.28 billion, a P/E ratio of 23.26 and a beta of 1.18.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Dover Corp. had a return on equity of 12.93% and a net margin of 7.29%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 EPS. Analysts expect that Dover Corp. will post $3.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, November 28th. Dover Corp.’s payout ratio is 56.05%.
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A number of research analysts have recently commented on DOV shares. Zacks Investment Research downgraded Dover Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday, October 13th. Susquehanna assumed coverage on Dover Corp. in a research report on Friday, October 7th. They issued a “neutral” rating and a $77.00 target price for the company. Bank of America Corp. reissued a “buy” rating and issued a $85.00 target price on shares of Dover Corp. in a research report on Thursday, October 6th. Citigroup Inc. decreased their target price on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Tuesday, October 11th. Finally, Barclays PLC set a $68.00 target price on Dover Corp. and gave the company a “hold” rating in a research report on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.18.
In related news, VP Sandra A. Arkell sold 565 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $68.73, for a total value of $38,832.45. Following the completion of the transaction, the vice president now directly owns 2,216 shares of the company’s stock, valued at approximately $152,305.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay L. Kloosterboer sold 11,501 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was 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 directly owns 64,615 shares of the company’s stock, valued at $4,539,203.75. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
Dover Corp. 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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