Spearhead Capital Advisors LLC boosted its position in Dover Corp (NYSE:DOV) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,806 shares of the industrial products company’s stock after purchasing an additional 2,303 shares during the quarter. Dover comprises 1.3% of Spearhead Capital Advisors LLC’s holdings, making the stock its 25th biggest position. Spearhead Capital Advisors LLC’s holdings in Dover were worth $4,590,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of DOV. Country Trust Bank bought a new stake in shares of Dover during the 2nd quarter worth about $30,000. Pinnacle Bank bought a new stake in shares of Dover during the 4th quarter worth about $28,000. CWM LLC raised its position in shares of Dover by 378.6% during the 1st quarter. CWM LLC now owns 493 shares of the industrial products company’s stock worth $46,000 after buying an additional 390 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Dover during the 1st quarter worth about $55,000. Finally, Legacy Advisors LLC bought a new stake in shares of Dover during the 1st quarter worth about $56,000. Hedge funds and other institutional investors own 84.94% of the company’s stock.
Shares of Dover stock traded down $0.59 during trading on Friday, hitting $98.19. The stock had a trading volume of 20,109 shares, compared to its average volume of 1,080,351. The stock’s 50 day simple moving average is $98.48. The stock has a market cap of $14.21 billion, a P/E ratio of 19.77, a PEG ratio of 1.46 and a beta of 1.49. The company has a quick ratio of 0.91, a current ratio of 1.34 and a debt-to-equity ratio of 1.00. Dover Corp has a 1 year low of $65.83 and a 1 year high of $103.47.
Dover (NYSE:DOV) last released its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.01. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. Dover had a net margin of 8.50% and a return on equity of 29.22%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. On average, sell-side analysts predict that Dover Corp will post 5.84 earnings per share for the current year.
A number of analysts have commented on the stock. Robert W. Baird assumed coverage on shares of Rocket Pharmaceuticals in a research report on Monday, April 22nd. They set an “outperform” rating on the stock. Citigroup set a $317.00 price objective on shares of Mastercard and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada set a $311.00 price objective on shares of UnitedHealth Group and gave the stock a “buy” rating in a research note on Friday, July 19th. ValuEngine raised shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley cut shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $98.76.
In other news, insider Jay L. Kloosterboer sold 15,416 shares of Dover stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $98.00, for a total value of $1,510,768.00. Following the transaction, the insider now directly owns 24,425 shares of the company’s stock, valued at $2,393,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% 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 through 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 and 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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