State Treasurer State of Michigan Has $2.97 Million Holdings in Dover Corp (DOV)

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State Treasurer State of Michigan trimmed its position in shares of Dover Corp (NYSE:DOV) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,862 shares of the industrial products company’s stock after selling 2,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Dover were worth $2,970,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashler Capital LLC acquired a new position in shares of Dover during the third quarter valued at about $44,080,000. AXA increased its holdings in Dover by 619.8% in the 3rd quarter. AXA now owns 337,137 shares of the industrial products company’s stock worth $29,847,000 after buying an additional 290,300 shares during the period. JPMorgan Chase & Co. increased its holdings in Dover by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock worth $781,489,000 after buying an additional 288,630 shares during the period. Neuberger Berman Group LLC increased its holdings in Dover by 41.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 981,926 shares of the industrial products company’s stock worth $86,930,000 after buying an additional 288,540 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in Dover in the 3rd quarter worth approximately $22,849,000. 91.53% of the stock is owned by institutional investors and hedge funds.

In other Dover news, VP William Spurgeon sold 13,102 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $87.19, for a total value of $1,142,363.38. Following the transaction, the vice president now owns 6,393 shares in the company, valued at approximately $557,405.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jay L. Kloosterboer sold 12,363 shares of the firm’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $87.53, for a total value of $1,082,133.39. Following the completion of the transaction, the senior vice president now owns 23,827 shares in the company, valued at approximately $2,085,577.31. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

DOV has been the topic of a number of analyst reports. SunTrust Banks raised their price objective on shares of Dover to $91.00 and gave the stock a “hold” rating in a research note on Friday, October 19th. Oppenheimer reiterated a “hold” rating on shares of Dover in a research report on Monday, October 22nd. UBS Group upgraded Dover from a “neutral” rating to a “buy” rating and set a $76.35 target price on the stock in a research report on Thursday, January 10th. Morgan Stanley lowered Dover from an “overweight” rating to an “equal” rating and decreased their target price for the company from $94.00 to $89.00 in a research report on Tuesday, December 18th. Finally, Barclays increased their target price on Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, October 19th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Dover presently has a consensus rating of “Hold” and an average target price of $89.18.

Shares of NYSE:DOV opened at $87.39 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.96 and a current ratio of 1.37. The company has a market cap of $12.69 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.26 and a beta of 1.51. Dover Corp has a 1 year low of $65.83 and a 1 year high of $90.26.

Dover (NYSE:DOV) last announced its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.14. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Dover had a return on equity of 24.90% and a net margin of 7.84%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. Sell-side analysts expect that Dover Corp will post 5.75 EPS for the current fiscal year.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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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