Livingston Group Asset Management CO operating as Southport Capital Management lowered its position in Dover Corp (NYSE:DOV) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,098 shares of the industrial products company’s stock after selling 530 shares during the period. Dover accounts for 1.0% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 22nd largest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Dover were worth $2,662,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Horan Capital Advisors LLC. acquired a new position in Dover during the 3rd quarter worth $25,000. Sandy Spring Bank bought a new stake in shares of Dover during the third quarter worth $26,000. Quest Capital Management Inc. ADV bought a new stake in shares of Dover during the third quarter worth $30,000. Simon Quick Advisors LLC acquired a new position in shares of Dover during the fourth quarter valued at $36,000. Finally, CSat Investment Advisory L.P. lifted its stake in shares of Dover by 72.8% during the second quarter. CSat Investment Advisory L.P. now owns 432 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 182 shares during the period. 86.89% of the stock is currently owned by institutional investors and hedge funds.
DOV has been the subject of several recent research reports. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, October 22nd. Morgan Stanley raised their target price on shares of Dover from $114.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday. ValuEngine cut shares of Dover from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. Citigroup boosted their price target on shares of Dover from $115.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Robert W. Baird increased their price objective on shares of Dover from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $109.11.
In other news, Director Kristiane C. Graham sold 13,596 shares of Dover stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $105.07, for a total transaction of $1,428,531.72. Following the transaction, the director now directly owns 356,704 shares of the company’s stock, valued at $37,478,889.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP William Spurgeon sold 6,559 shares of Dover stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $109.48, for a total transaction of $718,079.32. Following the transaction, the vice president now directly owns 5,296 shares in the company, valued at $579,806.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,210 shares of company stock worth $2,712,287. Insiders own 1.70% of the company’s stock.
DOV traded up $0.44 during midday trading on Thursday, reaching $118.52. 8,107 shares of the company were exchanged, compared to its average volume of 589,125. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.97 and a current ratio of 1.42. Dover Corp has a one year low of $77.41 and a one year high of $118.33. The stock has a market capitalization of $17.01 billion, a P/E ratio of 23.85, a PEG ratio of 1.62 and a beta of 1.50. The stock’s 50-day simple moving average is $114.29 and its 200 day simple moving average is $102.79.
Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.09. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Dover had a return on equity of 29.62% and a net margin of 9.08%. Dover’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. On average, research analysts anticipate that Dover Corp will post 5.85 earnings per share for the current year.
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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