Huntington National Bank decreased its stake in Dover Corp (NYSE:DOV) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,886 shares of the industrial products company’s stock after selling 1,315 shares during the period. Huntington National Bank’s holdings in Dover Corp were worth $3,927,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. FNY Partners Fund LP bought a new position in shares of Dover Corp during the fourth quarter valued at about $112,000. Johnson Financial Group Inc. increased its position in shares of Dover Corp by 2.6% in the fourth quarter. Johnson Financial Group Inc. now owns 1,556 shares of the industrial products company’s stock valued at $117,000 after buying an additional 40 shares in the last quarter. Ledyard National Bank increased its position in shares of Dover Corp by 421.1% in the first quarter. Ledyard National Bank now owns 1,485 shares of the industrial products company’s stock valued at $119,000 after buying an additional 1,200 shares in the last quarter. Fred Alger Management Inc. bought a new position in shares of Dover Corp during the fourth quarter valued at about $172,000. Finally, Blenheim Capital Management BV bought a new position in shares of Dover Corp during the fourth quarter valued at about $189,000. Hedge funds and other institutional investors own 84.57% of the company’s stock.
Dover Corp (NYSE:DOV) traded up 0.57% during mid-day trading on Thursday, reaching $79.71. 2,841,865 shares of the company’s stock traded hands. Dover Corp has a 52-week low of $62.89 and a 52-week high of $82.56. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 24.53 and a beta of 1.18. The company has a 50-day moving average of $79.39 and a 200-day moving average of $75.64.
Dover Corp (NYSE:DOV) last released its earnings results on Thursday, April 20th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.48. Dover Corp had a net margin of 7.49% and a return on equity of 12.35%. The company earned $1.81 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. Equities research analysts expect that Dover Corp will post $3.61 EPS for the current year.
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DOV has been the subject of several research reports. Vertical Research upgraded Dover Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, January 3rd. Barclays PLC lifted their price objective on Dover Corp from $78.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Langenberg & Company upgraded Dover Corp from a “sell” rating to a “hold” rating in a research report on Monday, January 30th. Royal Bank of Canada set a $73.00 price objective on Dover Corp and gave the stock a “hold” rating in a research report on Thursday, January 26th. Finally, Stifel Nicolaus lifted their price objective on Dover Corp from $76.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, January 27th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover Corp presently has an average rating of “Hold” and a consensus target price of $83.33.
In other news, Director Michael B. Stubbs sold 20,000 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $80.30, for a total transaction of $1,606,000.00. Following the transaction, the director now owns 277,194 shares in the company, valued at approximately $22,258,678.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sandra A. Arkell sold 1,850 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $79.94, for a total transaction of $147,889.00. Following the transaction, the vice president now owns 10,742 shares in the company, valued at approximately $858,715.48. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
About Dover Corp
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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