Bowling Portfolio Management LLC Purchases Shares of 9,140 Dover Co. (NYSE:DOV)
Bowling Portfolio Management LLC purchased a new stake in Dover Co. (NYSE:DOV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,140 shares of the industrial products company’s stock, valued at approximately $990,000.
A number of other institutional investors and hedge funds have also bought and sold shares of DOV. PNC Financial Services Group Inc. grew its holdings in Dover by 122.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 512,825 shares of the industrial products company’s stock valued at $49,518,000 after buying an additional 281,782 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Dover by 15.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,658,753 shares of the industrial products company’s stock worth $160,167,000 after purchasing an additional 227,829 shares during the period. State of Tennessee Treasury Department grew its holdings in shares of Dover by 326.9% during the 2nd quarter. State of Tennessee Treasury Department now owns 236,806 shares of the industrial products company’s stock worth $22,867,000 after purchasing an additional 181,334 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of Dover by 358.7% during the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 226,766 shares of the industrial products company’s stock worth $21,898,000 after purchasing an additional 177,325 shares during the period. Finally, Cibc World Markets Corp grew its holdings in shares of Dover by 1,520.1% during the 2nd quarter. Cibc World Markets Corp now owns 172,250 shares of the industrial products company’s stock worth $16,632,000 after purchasing an additional 161,618 shares during the period. Institutional investors own 82.96% of the company’s stock.
A number of analysts have recently issued reports on DOV shares. Bank of America boosted their target price on Dover from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Oppenheimer reiterated a “hold” rating on shares of Dover in a report on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Dover from $117.00 to $119.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Morgan Stanley boosted their price target on Dover from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Tuesday, September 22nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $110.70.
Dover (NYSE:DOV) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.20. Dover had a return on equity of 27.33% and a net margin of 9.99%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the company posted $1.56 EPS. Dover’s quarterly revenue was down 20.3% on a year-over-year basis. On average, equities analysts expect that Dover Co. will post 5.22 earnings per share for the current fiscal year.
Dover Company Profile
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle services, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.
Further Reading: Cash Flow Analysis in Stock Selection
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