Dover Corp (DOV) Position Reduced by HGK Asset Management Inc.

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HGK Asset Management Inc. lowered its stake in shares of Dover Corp (NYSE:DOV) by 9.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 65,203 shares of the industrial products company’s stock after selling 6,483 shares during the period. Dover accounts for about 1.8% of HGK Asset Management Inc.’s holdings, making the stock its 24th biggest position. HGK Asset Management Inc.’s holdings in Dover were worth $6,116,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lavaca Capital LLC acquired a new stake in shares of Dover during the 4th quarter valued at $25,000. Riverview Trust Co acquired a new stake in shares of Dover during the 4th quarter valued at $26,000. Capital Financial Planning LLC acquired a new stake in shares of Dover during the 4th quarter valued at $27,000. Private Capital Group LLC boosted its stake in shares of Dover by 252.2% during the 4th quarter. Private Capital Group LLC now owns 398 shares of the industrial products company’s stock valued at $28,000 after buying an additional 285 shares during the period. Finally, Pinnacle Bank acquired a new stake in shares of Dover during the 4th quarter valued at $28,000. 85.85% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Wednesday, April 24th. Robert W. Baird lowered shares of Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Deutsche Bank set a $102.00 target price on shares of Dover and gave the company a “hold” rating in a research note on Monday, April 22nd. SunTrust Banks lifted their target price on shares of Dover to $91.00 and gave the company a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $94.10.

In related news, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total value of $831,044.10. Following the transaction, the vice president now owns 4,192 shares in the company, valued at approximately $385,454.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Dover stock opened at $94.45 on Friday. The firm has a market cap of $13.73 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. The company has a current ratio of 1.30, a quick ratio of 0.87 and a debt-to-equity ratio of 1.04. Dover Corp has a 1-year low of $65.83 and a 1-year high of $99.46.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.12. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.69 billion. Dover had a net margin of 7.69% and a return on equity of 28.48%. Dover’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, research analysts expect that Dover Corp will post 5.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.92 annualized dividend and a yield of 2.03%. Dover’s dividend payout ratio (DPR) is presently 38.63%.

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Dover 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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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