Huntington National Bank Sells 1,850 Shares of Dover Corp (NYSE:DOV)

Huntington National Bank lessened its holdings in Dover Corp (NYSE:DOV) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,100 shares of the industrial products company’s stock after selling 1,850 shares during the period. Huntington National Bank’s holdings in Dover were worth $3,293,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Parametric Portfolio Associates LLC lifted its stake in shares of Dover by 9.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 496,614 shares of the industrial products company’s stock worth $41,686,000 after purchasing an additional 43,007 shares during the period. Envestnet Asset Management Inc. raised its stake in Dover by 14.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 140,404 shares of the industrial products company’s stock worth $13,557,000 after acquiring an additional 17,792 shares during the period. Treasurer of the State of North Carolina raised its stake in Dover by 71.1% during the 1st quarter. Treasurer of the State of North Carolina now owns 59,854 shares of the industrial products company’s stock worth $5,024,000 after acquiring an additional 24,866 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Dover by 634.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 15,130 shares of the industrial products company’s stock worth $1,461,000 after acquiring an additional 13,070 shares during the period. Finally, Congress Asset Management Co. MA raised its stake in Dover by 10.1% during the 2nd quarter. Congress Asset Management Co. MA now owns 573,619 shares of the industrial products company’s stock worth $55,389,000 after acquiring an additional 52,648 shares during the period. Hedge funds and other institutional investors own 83.76% of the company’s stock.

Shares of DOV opened at $102.93 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.32 and a quick ratio of 0.91. Dover Corp has a 1 year low of $62.95 and a 1 year high of $120.26. The company has a 50 day simple moving average of $98.46 and a two-hundred day simple moving average of $98.71. The firm has a market cap of $14.82 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39.

Dover (NYSE:DOV) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.20. Dover had a net margin of 9.99% and a return on equity of 27.33%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm posted $1.56 earnings per share. Dover’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Dover Corp will post 5.19 earnings per share for the current year.

A number of equities research analysts have commented on DOV shares. Deutsche Bank decreased their target price on shares of Dover from $127.00 to $99.00 and set a “hold” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley raised their target price on shares of Dover from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Barclays decreased their target price on shares of Dover from $107.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 22nd. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Thursday, July 16th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Dover in a report on Thursday, July 23rd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Dover presently has a consensus rating of “Buy” and an average target price of $102.11.

Dover Company 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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