Hartford Investment Management Co. lifted its stake in shares of Dover Corp (NYSE:DOV) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,576 shares of the industrial products company’s stock after purchasing an additional 2,016 shares during the quarter. Hartford Investment Management Co.’s holdings in Dover were worth $1,318,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of DOV. Advisors Asset Management Inc. lifted its holdings in shares of Dover by 52.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 17,676 shares of the industrial products company’s stock worth $1,294,000 after acquiring an additional 6,106 shares during the period. Bank of Montreal Can raised its holdings in Dover by 20.4% in the third quarter. Bank of Montreal Can now owns 133,270 shares of the industrial products company’s stock valued at $11,800,000 after buying an additional 22,562 shares during the period. Stock Yards Bank & Trust Co. purchased a new position in Dover in the third quarter valued at approximately $225,000. Somerville Kurt F purchased a new position in Dover in the third quarter valued at approximately $243,000. Finally, First Hawaiian Bank purchased a new position in Dover in the third quarter valued at approximately $614,000. Institutional investors and hedge funds own 91.53% of the company’s stock.
In other Dover news, SVP Jay L. Kloosterboer sold 12,363 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $87.53, for a total value of $1,082,133.39. Following the sale, the senior vice president now directly owns 23,827 shares in the company, valued at $2,085,577.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William Spurgeon sold 13,102 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $87.19, for a total value of $1,142,363.38. Following the completion of the sale, the vice president now owns 6,393 shares in the company, valued at $557,405.67. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Dover (NYSE:DOV) last posted its earnings results on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share (EPS) 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 analysts’ expectations of $1.76 billion. Dover had a return on equity of 24.90% and a net margin of 7.84%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.84 earnings per share. As a group, analysts predict that Dover Corp will post 5.75 EPS for the current year.
Several research analysts recently commented on DOV shares. Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Morgan Stanley lowered shares of Dover from an “overweight” rating to an “equal” rating and dropped their price objective for the company from $94.00 to $89.00 in a research note on Tuesday, December 18th. Barclays lifted their price objective on shares of Dover from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, October 19th. SunTrust Banks lifted their price objective on shares of Dover to $91.00 and gave the company a “hold” rating in a research note on Friday, October 19th. Finally, BMO Capital Markets lifted their price objective on shares of Dover from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Friday, October 19th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Dover has an average rating of “Hold” and a consensus price target of $89.18.
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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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