NN Investment Partners Holdings N.V. Decreases Stake in Dover Corp (DOV)

NN Investment Partners Holdings N.V. cut its holdings in Dover Corp (NYSE:DOV) by 54.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,924 shares of the industrial products company’s stock after selling 5,786 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Dover were worth $436,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Dover by 15.9% in the 2nd quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock valued at $388,283,000 after buying an additional 726,930 shares during the period. Boston Partners boosted its holdings in shares of Dover by 110.3% in the 2nd quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock valued at $375,601,000 after buying an additional 2,691,480 shares during the period. Third Point LLC boosted its holdings in shares of Dover by 2.0% in the 2nd quarter. Third Point LLC now owns 4,000,000 shares of the industrial products company’s stock valued at $292,800,000 after buying an additional 80,000 shares during the period. Northern Trust Corp boosted its holdings in shares of Dover by 15.2% in the 2nd quarter. Northern Trust Corp now owns 2,323,795 shares of the industrial products company’s stock valued at $170,101,000 after buying an additional 306,116 shares during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Dover by 11.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 1,830,239 shares of the industrial products company’s stock valued at $133,973,000 after buying an additional 182,723 shares during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

In other Dover news, Director Mary A. Winston sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total transaction of $164,580.00. Following the sale, the director now directly owns 13,055 shares in the company, valued at approximately $1,074,295.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.

Several research analysts have recently commented on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Dover in a report on Monday, October 22nd. SunTrust Banks lifted their price target on shares of Dover to $91.00 and gave the company a “hold” rating in a report on Friday, October 19th. BMO Capital Markets boosted their target price on shares of Dover from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Friday, October 19th. Barclays boosted their target price on shares of Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, October 19th. Finally, Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $89.77.

Dover stock opened at $86.85 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 1.09. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 1.48 and a beta of 1.32. Dover Corp has a 52-week low of $70.12 and a 52-week high of $90.26.

Dover (NYSE:DOV) last posted its earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Dover had a net margin of 9.69% and a return on equity of 21.22%. Dover’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. Equities analysts forecast that Dover Corp will post 4.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, November 29th. Dover’s payout ratio is 47.64%.

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About Dover

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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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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