Lord Abbett & CO. LLC lowered its position in shares of Dover Corporation (NYSE:DOV) by 18.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,265,792 shares of the industrial products company’s stock after selling 281,459 shares during the period. Lord Abbett & CO. LLC owned approximately 0.81% of Dover Corporation worth $101,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Farmers National Bank increased its position in shares of Dover Corporation by 0.3% during the first quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 10 shares in the last quarter. Cleararc Capital Inc. increased its position in shares of Dover Corporation by 0.4% during the first quarter. Cleararc Capital Inc. now owns 3,799 shares of the industrial products company’s stock valued at $305,000 after acquiring an additional 15 shares in the last quarter. Citizens Financial Group Inc RI increased its position in shares of Dover Corporation by 0.3% during the second quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 15 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Dover Corporation by 0.7% during the second quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after acquiring an additional 23 shares in the last quarter. Finally, FineMark National Bank & Trust increased its position in shares of Dover Corporation by 0.7% during the second quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 23 shares in the last quarter. 86.01% of the stock is owned by institutional investors.

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Several equities research analysts recently weighed in on DOV shares. BMO Capital Markets reissued a “buy” rating and set a $94.00 price target on shares of Dover Corporation in a research report on Sunday, August 27th. Robert W. Baird set a $91.00 price target on shares of Dover Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. BidaskClub raised shares of Dover Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Dover Corporation from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Tuesday, July 18th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $91.00 price target on shares of Dover Corporation in a research report on Wednesday, September 6th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $93.31.

Shares of Dover Corporation (DOV) traded up 0.2963% on Monday, hitting $94.7599. 299,731 shares of the stock traded hands. The stock has a 50 day moving average of $90.16 and a 200 day moving average of $84.07. Dover Corporation has a one year low of $65.50 and a one year high of $95.14. The company has a market cap of $14.76 billion, a PE ratio of 23.6900 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.94 billion. Dover Corporation had a net margin of 8.61% and a return on equity of 13.36%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. Equities analysts anticipate that Dover Corporation will post $4.29 earnings per share for the current year.

In other news, Director Michael B. Stubbs sold 25,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $87.04, for a total value of $2,176,000.00. Following the sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Dover Corporation Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

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Institutional Ownership by Quarter for Dover Corporation (NYSE:DOV)

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