M&T Bank Corp Reduces Position in Dover Corp (NYSE:DOV)

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M&T Bank Corp trimmed its holdings in Dover Corp (NYSE:DOV) by 2.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,145 shares of the industrial products company’s stock after selling 2,494 shares during the period. M&T Bank Corp owned 0.09% of Dover worth $11,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. MBE Wealth Management LLC purchased a new position in Dover during the first quarter worth approximately $25,000. Flagship Harbor Advisors LLC raised its holdings in shares of Dover by 119.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 515 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 280 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of Dover by 26.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 587 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 121 shares during the last quarter. CSat Investment Advisory L.P. boosted its position in shares of Dover by 45.3% during the 1st quarter. CSat Investment Advisory L.P. now owns 751 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 234 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Dover by 15.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 651 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 88 shares during the period. 83.76% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on DOV shares. Morgan Stanley boosted their target price on shares of Dover from $107.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Robert W. Baird upgraded Dover from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a research report on Friday, July 17th. They noted that the move was a valuation call. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Thursday, July 16th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Dover in a research note on Thursday, July 23rd. Finally, Barclays cut their price objective on Dover from $107.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $102.11.

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

Dover (NYSE:DOV) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.20. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Dover had a return on equity of 27.33% and a net margin of 9.99%. Dover’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the business posted $1.56 EPS. On average, equities analysts predict that Dover Corp will post 5.19 earnings per share for the current year.

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.

Read More: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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