Pzena Investment Management LLC reduced its position in Dover Corp (NYSE:DOV) by 68.5% during the second quarter, HoldingsChannel.com reports. The firm owned 333,617 shares of the industrial products company’s stock after selling 726,068 shares during the period. Pzena Investment Management LLC’s holdings in Dover were worth $33,428,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DOV. Boston Partners raised its position in Dover by 29.2% in the 1st quarter. Boston Partners now owns 7,642,284 shares of the industrial products company’s stock worth $716,846,000 after purchasing an additional 1,728,856 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Dover by 157.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 313,429 shares of the industrial products company’s stock worth $29,399,000 after purchasing an additional 191,688 shares during the period. BlackRock Inc. raised its position in Dover by 1.4% in the 1st quarter. BlackRock Inc. now owns 11,983,312 shares of the industrial products company’s stock worth $1,124,033,000 after purchasing an additional 161,427 shares during the period. Principal Financial Group Inc. raised its position in Dover by 70.5% in the 1st quarter. Principal Financial Group Inc. now owns 376,307 shares of the industrial products company’s stock worth $35,298,000 after purchasing an additional 155,552 shares during the period. Finally, State of Wisconsin Investment Board raised its position in Dover by 31.3% in the 1st quarter. State of Wisconsin Investment Board now owns 651,726 shares of the industrial products company’s stock worth $61,132,000 after purchasing an additional 155,532 shares during the period. 84.30% of the stock is currently owned by institutional investors.

DOV stock traded up $1.72 during mid-day trading on Friday, reaching $90.72. The company had a trading volume of 578,600 shares, compared to its average volume of 969,558. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 0.91. The company has a market capitalization of $12.84 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.48. The firm has a 50 day moving average of $96.95 and a 200 day moving average of $94.45. Dover Corp has a 12 month low of $65.83 and a 12 month high of $103.47.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.01. Dover had a net margin of 8.50% and a return on equity of 29.22%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm earned $1.30 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that Dover Corp will post 5.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.49 per share. The ex-dividend date is Thursday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.16%. Dover’s dividend payout ratio (DPR) is currently 38.63%.

In other news, VP William Spurgeon sold 20,049 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $98.42, for a total transaction of $1,973,222.58. Following the transaction, the vice president now directly owns 5,296 shares in the company, valued at $521,232.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jay L. Kloosterboer sold 15,416 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $98.00, for a total transaction of $1,510,768.00. Following the transaction, the insider now owns 24,425 shares in the company, valued at $2,393,650. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,383 shares of company stock worth $4,385,834. Insiders own 1.70% of the company’s stock.

A number of research firms recently weighed in on DOV. Barclays increased their price objective on shares of Dover from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Deutsche Bank set a $102.00 target price on shares of Dover and gave the stock a “hold” rating in a research note on Monday, April 22nd. Morgan Stanley upped their target price on shares of Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird downgraded shares of Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover presently has a consensus rating of “Hold” and an average target price of $98.76.

About Dover

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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