FormulaFolio Investments LLC cut its holdings in Dover Corp (NYSE:DOV) by 51.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,094 shares of the industrial products company’s stock after selling 4,358 shares during the period. FormulaFolio Investments LLC’s holdings in Dover Corp were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of DOV. BlackRock Inc. raised its position in shares of Dover Corp by 1,664.3% in the 1st quarter. BlackRock Inc. now owns 9,924,852 shares of the industrial products company’s stock worth $797,462,000 after acquiring an additional 9,362,330 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its position in shares of Dover Corp by 132.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,797,775 shares of the industrial products company’s stock worth $144,218,000 after acquiring an additional 1,024,890 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Dover Corp by 108.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,598,035 shares of the industrial products company’s stock worth $128,193,000 after acquiring an additional 830,946 shares in the last quarter. Bank of America Corp DE raised its position in shares of Dover Corp by 9.4% in the 1st quarter. Bank of America Corp DE now owns 6,446,209 shares of the industrial products company’s stock worth $517,953,000 after acquiring an additional 553,136 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Dover Corp by 22.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,951,213 shares of the industrial products company’s stock worth $236,747,000 after acquiring an additional 539,703 shares in the last quarter. 86.01% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/10/20/dover-corp-dov-shares-sold-by-formulafolio-investments-llc.html.

In related news, Director Michael B. Stubbs sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares of the company’s stock, valued at $23,965,941.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

Shares of Dover Corp (DOV) traded up 6.09% during trading on Friday, hitting $94.95. The stock had a trading volume of 2,931,607 shares. The stock has a 50 day moving average of $90.98 and a 200 day moving average of $84.38. Dover Corp has a 52-week low of $65.50 and a 52-week high of $95.19. The firm has a market cap of $14.79 billion, a PE ratio of 23.74 and a beta of 1.27.

Dover Corp (NYSE:DOV) last announced its earnings results on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.05. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.99 billion. Dover Corp had a net margin of 8.92% and a return on equity of 17.19%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities analysts anticipate that Dover Corp will post $4.29 EPS for the current year.

DOV has been the subject of several research analyst reports. BidaskClub lowered Dover Corp from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $90.00 target price (up from $89.00) on shares of Dover Corp in a research report on Thursday, July 6th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $87.00 target price on shares of Dover Corp in a research report on Thursday, July 6th. Zacks Investment Research raised Dover Corp from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, July 18th. Finally, Citigroup Inc. boosted their target price on Dover Corp from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $94.23.

About Dover Corp

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.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).

Institutional Ownership by Quarter for Dover Corp (NYSE:DOV)

Receive News & Stock Ratings for Dover Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover Corp and related stocks with our FREE daily email newsletter.