Huntington National Bank Cuts Stock Position in Dover Corp (NYSE:DOV)

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Huntington National Bank decreased its holdings in shares of Dover Corp (NYSE:DOV) by 5.1% during the second quarter, Holdings Channel.com reports. The fund owned 34,100 shares of the industrial products company’s stock after selling 1,850 shares during the period. Huntington National Bank’s holdings in Dover were worth $3,293,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Parametric Portfolio Associates LLC grew its stake in shares of Dover by 9.5% during the first quarter. Parametric Portfolio Associates LLC now owns 496,614 shares of the industrial products company’s stock worth $41,686,000 after acquiring an additional 43,007 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Dover by 14.5% during the second quarter. Envestnet Asset Management Inc. now owns 140,404 shares of the industrial products company’s stock worth $13,557,000 after acquiring an additional 17,792 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Dover by 71.1% during the first quarter. Treasurer of the State of North Carolina now owns 59,854 shares of the industrial products company’s stock worth $5,024,000 after acquiring an additional 24,866 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of Dover by 634.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 15,130 shares of the industrial products company’s stock worth $1,461,000 after acquiring an additional 13,070 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its stake in shares of Dover by 10.1% during the second quarter. Congress Asset Management Co. MA now owns 573,619 shares of the industrial products company’s stock worth $55,389,000 after acquiring an additional 52,648 shares during the last quarter. Institutional investors and hedge funds own 83.76% of the company’s stock.

Shares of DOV stock opened at $102.93 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.32 and a quick ratio of 0.91. Dover Corp has a 1-year low of $62.95 and a 1-year high of $120.26. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.72 and a beta of 1.39. The stock has a 50 day simple moving average of $98.46 and a 200-day simple moving average of $98.71.

Dover (NYSE:DOV) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.20. Dover had a return on equity of 27.33% and a net margin of 9.99%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts anticipate that Dover Corp will post 5.19 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on DOV shares. Oppenheimer restated a “hold” rating on shares of Dover in a research note on Wednesday, July 22nd. Deutsche Bank decreased their price target on Dover from $127.00 to $99.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Seaport Global Securities reissued a “neutral” rating on shares of Dover in a report on Thursday, July 23rd. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Thursday, July 16th. Finally, Morgan Stanley upped their target price on Dover from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Dover presently has a consensus rating of “Buy” and an average target price of $102.11.

Dover Company Profile

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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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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