Dover Corporation (NYSE:DOV) Position Cut by CS Mckee LP

CS Mckee LP cut its position in Dover Corporation (NYSE:DOV) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,102 shares of the industrial products company’s stock after selling 3,013 shares during the period. Dover Corporation accounts for about 1.5% of CS Mckee LP’s investment portfolio, making the stock its 28th biggest position. CS Mckee LP owned 0.15% of Dover Corporation worth $19,341,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of Dover Corporation by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 227 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Dover Corporation by 5,446.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,743 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Dover Corporation by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 258 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of Dover Corporation by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock worth $187,000 after acquiring an additional 213 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in shares of Dover Corporation during the first quarter worth $200,000. Hedge funds and other institutional investors own 86.01% of the company’s stock.

Dover Corporation (NYSE DOV) traded down 0.56% during midday trading on Wednesday, reaching $93.52. 906,743 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $90.16 and its 200-day moving average price is $84.07. The stock has a market cap of $14.56 billion, a PE ratio of 23.38 and a beta of 1.27. Dover Corporation has a one year low of $65.50 and a one year high of $95.14.

Dover Corporation (NYSE:DOV) last announced its earnings results on Thursday, July 20th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. Dover Corporation had a return on equity of 13.36% and a net margin of 8.61%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm posted $0.76 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts predict that Dover Corporation will post $4.29 earnings per share for the current year.

In other news, Director Michael B. Stubbs sold 25,000 shares of Dover Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the transaction, the director now directly owns 275,344 shares of the company’s stock, valued at approximately $23,965,941.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by insiders.

Several research analysts recently commented on DOV shares. Robert W. Baird set a $91.00 target price on shares of Dover Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. BMO Capital Markets reiterated a “buy” rating and issued a $94.00 price target on shares of Dover Corporation in a research note on Sunday, August 27th. Zacks Investment Research upgraded shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, July 18th. Citigroup Inc. raised their target price on shares of Dover Corporation from $88.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Finally, SunTrust Banks, Inc. reissued a “hold” rating and issued a $90.00 target price on shares of Dover Corporation in a report on Thursday, October 12th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $94.23.

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About Dover Corporation

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.

Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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