Tocqueville Asset Management L.P. decreased its stake in Dover Corporation (NYSE:DOV) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,319 shares of the industrial products company’s stock after selling 10,400 shares during the period. Tocqueville Asset Management L.P. owned 0.16% of Dover Corporation worth $20,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Bank & Trust raised its position in shares of Dover Corporation by 15.5% in the first quarter. First Bank & Trust now owns 1,326 shares of the industrial products company’s stock valued at $106,000 after buying an additional 178 shares during the period. IFP Advisors Inc raised its position in shares of Dover Corporation by 15.1% in the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after buying an additional 227 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Dover Corporation by 5,446.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $143,000 after buying an additional 1,743 shares during the period. Penserra Capital Management LLC raised its position in shares of Dover Corporation by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,978 shares of the industrial products company’s stock valued at $158,000 after buying an additional 172 shares during the period. Finally, First Mercantile Trust Co. raised its position in shares of Dover Corporation by 16.8% in the first quarter. First Mercantile Trust Co. now owns 2,114 shares of the industrial products company’s stock valued at $170,000 after buying an additional 304 shares during the period. 85.73% of the stock is owned by institutional investors.

Dover Corporation (NYSE DOV) traded down 0.35% during mid-day trading on Monday, reaching $83.57. 65,987 shares of the company’s stock were exchanged. Dover Corporation has a 52 week low of $65.50 and a 52 week high of $87.63. The company has a market capitalization of $13.01 billion, a P/E ratio of 20.89 and a beta of 1.27. The company’s 50 day moving average price is $84.23 and its 200-day moving average price is $81.11.

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, beating the Zacks’ 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 company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the company posted $0.76 EPS. Dover Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities research analysts expect that Dover Corporation will post $4.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.24%. This is a positive change from Dover Corporation’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, August 29th. Dover Corporation’s dividend payout ratio is presently 44.11%.

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Several research analysts have weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Dover Corporation in a research note on Wednesday, June 7th. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Bank of America Corporation raised their price objective on shares of Dover Corporation from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Seaport Global Securities lowered shares of Dover Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $91.00 to $86.00 in a research note on Wednesday, June 21st. Finally, Zacks Investment Research lowered shares of Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Dover Corporation has a consensus rating of “Hold” and an average price target of $87.73.

In other Dover Corporation news, Director Michael B. Stubbs sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $87.04, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

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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