Victory Capital Management Inc. cut its position in Dover Corp (NYSE:DOV) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,707 shares of the industrial products company’s stock after selling 2,636 shares during the period. Victory Capital Management Inc.’s holdings in Dover were worth $4,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Dover in the fourth quarter worth $26,000. Capital Financial Planning LLC purchased a new stake in shares of Dover in the fourth quarter worth $27,000. Private Capital Group LLC increased its stake in shares of Dover by 252.2% in the fourth quarter. Private Capital Group LLC now owns 398 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 285 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of Dover in the fourth quarter worth $28,000. Finally, Athena Capital Advisors LLC purchased a new stake in shares of Dover in the fourth quarter worth $30,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

In other Dover news, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total value of $831,044.10. Following the completion of the transaction, the vice president now directly owns 4,192 shares of the company’s stock, valued at approximately $385,454.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Several research firms recently weighed in on DOV. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Wednesday, April 24th. Robert W. Baird cut shares of Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Deutsche Bank set a $102.00 target price on shares of Dover and gave the company a “hold” rating in a research note on Monday, April 22nd. SunTrust Banks raised their target price on shares of Dover to $91.00 and gave the company a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.10.

DOV traded down $0.17 during trading on Friday, hitting $90.90. 571,581 shares of the company traded hands, compared to its average volume of 1,015,394. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.45 and a beta of 1.49. Dover Corp has a 1 year low of $65.83 and a 1 year high of $99.46. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.12. Dover had a net margin of 7.69% and a return on equity of 28.48%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company posted $0.90 earnings per share. Dover’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Dover Corp will post 5.81 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.11%. Dover’s payout ratio is currently 38.63%.

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Dover 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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