BlackRock Amends DOVER Corp. Stake to 10.5% as of Dec 31, 2023
Ticker: DOV · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 29905
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a huge 10.5% of DOVER Corp. as of year-end 2023.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership of Common Stock in DOVER Corp. As of December 31, 2023, BlackRock reported beneficial ownership of 15,310,028 shares, representing 10.5% of DOVER Corp.'s outstanding shares. This is an amendment (Amendment No: 9) to their previous filings, indicating a change in their holdings. This matters to investors because BlackRock is a major institutional investor, and their significant stake and any changes in it can signal their confidence (or lack thereof) in DOVER Corp.'s future performance.
Why It Matters
BlackRock's substantial 10.5% ownership in DOVER Corp. means they are a significant voice in the company, and their investment decisions can influence market perception and potentially the stock price.
Risk Assessment
Risk Level: low — This filing indicates a major institutional investor maintains a significant stake, which generally provides stability rather than risk.
Analyst Insight
A smart investor would note BlackRock's continued significant stake as a sign of institutional confidence, but also recognize that this is an amendment, implying past changes. They should monitor future 13G/A filings for any substantial increases or decreases in BlackRock's position, as these could signal shifts in their long-term outlook for DOVER Corp.
Key Numbers
- 15,310,028 — Shares Beneficially Owned (This is the total number of DOVER Corp. shares BlackRock Inc. reported owning as of December 31, 2023.)
- 10.5% — Percentage of Class (This represents BlackRock Inc.'s significant ownership stake in DOVER Corp., indicating their influence.)
- December 31, 2023 — Date of Event (This is the snapshot date for the reported share ownership, crucial for understanding the recency of the data.)
- Amendment No: 9 — Filing Amendment Number (This indicates that BlackRock has previously filed 8 amendments regarding their stake in DOVER Corp., showing ongoing adjustments.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- DOVER Corp. (company) — the subject company in which BlackRock holds shares
- 15,310,028 (dollar_amount) — number of shares beneficially owned by BlackRock
- 10.5% (dollar_amount) — percentage of DOVER Corp. shares beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 26, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will likely maintain a significant, but potentially fluctuating, stake in DOVER Corp. throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024
- DOVER Corp.'s stock price will continue to be influenced by major institutional investor activity, including BlackRock's future adjustments. (DOVER Corp.) — medium confidence, target: June 30, 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc. regarding DOVER Corp.?
This SC 13G/A filing is an amendment (Amendment No: 9) by BlackRock Inc. to report its beneficial ownership of Common Stock in DOVER Corp. as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of DOVER Corp. Common Stock does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 15,310,028 shares of DOVER Corp. Common Stock.
What percentage of DOVER Corp.'s outstanding Common Stock does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s beneficial ownership of 15,310,028 shares represents 10.5% of DOVER Corp.'s outstanding Common Stock.
When was the event date that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023.
What rule under the Securities Exchange Act of 1934 is BlackRock Inc. filing under?
BlackRock Inc. is filing this Schedule 13G/A under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding DOVER Corp (DOV).