Fox Run Management L.L.C. Takes Position in Dover Corp (DOV)
Fox Run Management L.L.C. acquired a new stake in shares of Dover Corp (NYSE:DOV) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,091 shares of the industrial products company’s stock, valued at approximately $274,000.
Other large investors have also bought and sold shares of the company. Edgestream Partners L.P. bought a new position in shares of Dover during the 2nd quarter valued at about $742,000. Rhumbline Advisers boosted its position in shares of Dover by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock valued at $23,207,000 after purchasing an additional 19,824 shares in the last quarter. Reilly Herbert Faulkner III boosted its position in shares of Dover by 2.7% during the 2nd quarter. Reilly Herbert Faulkner III now owns 50,792 shares of the industrial products company’s stock valued at $3,718,000 after purchasing an additional 1,328 shares in the last quarter. Lodge Hill Capital LLC bought a new position in shares of Dover during the 2nd quarter valued at about $17,348,000. Finally, Riverhead Capital Management LLC boosted its position in shares of Dover by 33.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,622 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 1,410 shares in the last quarter. Institutional investors own 90.73% of the company’s stock.
Shares of DOV opened at $82.18 on Friday. Dover Corp has a one year low of $70.12 and a one year high of $90.26. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.53 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 1.35 and a debt-to-equity ratio of 1.05.
The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.34%. This is a boost from Dover’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, August 30th. Dover’s dividend payout ratio (DPR) is presently 47.64%.
Several research firms have recently weighed in on DOV. Bank of America raised their price objective on shares of Dover from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Barclays raised their price objective on shares of Dover to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, September 12th. Oppenheimer restated a “hold” rating on shares of Dover in a research report on Tuesday, September 11th. Stifel Nicolaus raised their price objective on shares of Dover from $85.00 to $92.00 and gave the company a “hold” rating in a research report on Wednesday, September 12th. Finally, Royal Bank of Canada raised their price objective on shares of Dover to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 12th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Dover has a consensus rating of “Hold” and a consensus price target of $90.77.
In other Dover news, Director Kristiane C. Graham sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $82.75, for a total value of $4,137,500.00. Following the completion of the transaction, the director now directly owns 367,324 shares in the company, valued at $30,396,061. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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