Eads & Heald Investment Counsel cut its stake in shares of Dover Corp. (NYSE:DOV) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 23,321 shares of the company’s stock after selling 165 shares during the period. Eads & Heald Investment Counsel’s holdings in Dover Corp. were worth $1,617,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in DOV. HBK Investments L P purchased a new stake in Dover Corp. during the first quarter valued at $2,930,000. Geode Capital Management LLC increased its stake in Dover Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 1,269,848 shares of the company’s stock valued at $81,526,000 after buying an additional 23,865 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Dover Corp. by 126.5% in the first quarter. Riverhead Capital Management LLC now owns 79,336 shares of the company’s stock valued at $5,105,000 after buying an additional 44,312 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in Dover Corp. by 3.0% in the first quarter. Pictet Asset Management Ltd. now owns 89,544 shares of the company’s stock valued at $5,443,000 after buying an additional 2,600 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Dover Corp. during the first quarter valued at $402,000. Institutional investors own 85.56% of the company’s stock.
Dover Corp. (NYSE:DOV) remained flat at $67.78 during mid-day trading on Monday. The stock had a trading volume of 550,900 shares. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 19.49 and a beta of 1.25. Dover Corp. has a 1-year low of $50.91 and a 1-year high of $74.90. The stock’s 50 day moving average is $70.63 and its 200-day moving average is $69.15.
Dover Corp. (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. Dover Corp. had a return on equity of 14.27% and a net margin of 8.03%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Dover Corp. will post $3.34 EPS for the current year.
Several equities research analysts have recently weighed in on DOV shares. Zacks Investment Research downgraded Dover Corp. from a “hold” rating to a “strong sell” rating in a report on Thursday. Susquehanna assumed coverage on Dover Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $77.00 price target for the company. Bank of America Corp. reaffirmed a “buy” rating and set a $85.00 price target on shares of Dover Corp. in a report on Thursday, October 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Dover Corp. in a report on Monday, June 27th. Finally, Citigroup Inc. decreased their price target on Dover Corp. from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Tuesday, October 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $72.19.
In other Dover Corp. news, VP William Spurgeon sold 17,170 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $71.65, for a total transaction of $1,230,230.50. Following the completion of the transaction, the vice president now owns 59,163 shares in the company, valued at approximately $4,239,028.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP C. Anderson Fincher sold 1,420 shares of the business’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $73.42, for a total value of $104,256.40. Following the transaction, the vice president now owns 40,326 shares of the company’s stock, valued at approximately $2,960,734.92. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
About Dover Corp.
Dover Corporation (Dover) is engaged in the manufacturing of equipment, components and specialty systems. The Company also provides supporting engineering, testing and other services. The Company operates through four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for production and processing of fuels across the world.
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