Huntington National Bank lowered its stake in Dover Corp (NYSE:DOV) by 2.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 37,574 shares of the industrial products company’s stock after selling 939 shares during the quarter. Huntington National Bank’s holdings in Dover were worth $3,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of DOV. LLBH Private Wealth Management LLC purchased a new position in Dover during the 2nd quarter valued at approximately $65,000. Vanguard Group Inc. grew its holdings in Dover by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,343,884 shares of the industrial products company’s stock valued at $1,737,857,000 after buying an additional 254,585 shares in the last quarter. BlackRock Inc. grew its holdings in Dover by 3.1% during the 2nd quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock valued at $1,237,921,000 after buying an additional 371,171 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Dover by 4.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,504,293 shares of the industrial products company’s stock valued at $838,012,000 after buying an additional 368,878 shares in the last quarter. Finally, Boston Partners grew its holdings in Dover by 0.7% during the 2nd quarter. Boston Partners now owns 7,696,715 shares of the industrial products company’s stock valued at $771,171,000 after buying an additional 54,431 shares in the last quarter. 86.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Dover stock traded up $0.08 on Friday, reaching $109.21. The company had a trading volume of 246,942 shares, compared to its average volume of 1,092,961. Dover Corp has a 1 year low of $65.83 and a 1 year high of $110.81. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.42 and a quick ratio of 0.97. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.63 and a beta of 1.49. The firm’s 50-day moving average price is $100.49 and its two-hundred day moving average price is $96.82.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.09. Dover had a return on equity of 29.62% and a net margin of 9.08%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company earned $1.36 EPS. Dover’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Dover Corp will post 5.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.79%. Dover’s dividend payout ratio is currently 39.44%.

Several equities analysts have weighed in on DOV shares. ValuEngine upgraded Dover from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday, October 22nd. Citigroup raised their price target on Dover from $113.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays raised their price target on Dover from $112.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada set a $96.00 target price on Dover and gave the stock a “hold” rating in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.84.

In other Dover news, Director Kristiane C. Graham sold 1,000 shares of Dover stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $109.57, for a total transaction of $109,570.00. Following the completion of the sale, the director now directly owns 356,704 shares of the company’s stock, valued at approximately $39,084,057.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brad M. Cerepak sold 9,918 shares of Dover stock in a transaction on Friday, August 16th. The shares were sold at an average price of $90.93, for a total value of $901,843.74. The disclosure for this sale can be found here. Insiders have sold a total of 24,514 shares of company stock valued at $2,439,945 over the last three months. 1.70% of the stock is owned by corporate insiders.

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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