American International Group Inc. grew its position in Dover Corp (NYSE:DOV) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 61,346 shares of the industrial products company’s stock after acquiring an additional 961 shares during the quarter. American International Group Inc.’s holdings in Dover were worth $5,431,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. bought a new position in shares of Dover during the 2nd quarter valued at approximately $742,000. Rhumbline Advisers increased its position in shares of Dover by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 317,036 shares of the industrial products company’s stock valued at $23,207,000 after purchasing an additional 19,824 shares during the last quarter. Global X Management Co LLC increased its position in shares of Dover by 71.5% during the 2nd quarter. Global X Management Co LLC now owns 7,673 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 3,199 shares during the last quarter. Synovus Financial Corp increased its position in shares of Dover by 63.7% during the 3rd quarter. Synovus Financial Corp now owns 4,951 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 1,927 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its position in shares of Dover by 33.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,622 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 1,410 shares during the last quarter. 90.84% of the stock is currently owned by institutional investors and hedge funds.

In other Dover news, Director Mary A. Winston sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total value of $164,580.00. Following the transaction, the director now owns 13,055 shares of the company’s stock, valued at approximately $1,074,295.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Several research firms have recently weighed in on DOV. Zacks Investment Research downgraded Dover from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. UBS Group boosted their target price on Dover from $80.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. BMO Capital Markets downgraded Dover from an “outperform” rating to a “market perform” rating and set a $90.00 target price on the stock. in a research report on Friday, September 7th. Royal Bank of Canada boosted their target price on Dover to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 12th. Finally, SunTrust Banks boosted their target price on Dover to $91.00 and gave the company a “hold” rating in a research report on Friday, October 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $89.77.

Shares of Dover stock opened at $81.84 on Friday. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 1.30. Dover Corp has a 52 week low of $70.12 and a 52 week high of $90.26.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.07. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. Dover had a return on equity of 21.22% and a net margin of 9.69%. Dover’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. On average, equities analysts expect that Dover Corp will post 4.85 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, November 29th. Dover’s dividend payout ratio (DPR) is presently 47.64%.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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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