Rehmann Capital Advisory Group Purchases New Stake in Dover Corporation (DOV)

Rehmann Capital Advisory Group purchased a new stake in Dover Corporation (NYSE:DOV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,462 shares of the industrial products company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Farmers National Bank grew its position in Dover Corporation by 0.3% in the 1st quarter. Farmers National Bank now owns 2,988 shares of the industrial products company’s stock valued at $220,000 after purchasing an additional 10 shares during the period. Citizens Financial Group Inc RI grew its position in Dover Corporation by 0.3% in the 2nd quarter. Citizens Financial Group Inc RI now owns 4,555 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 15 shares during the period. Contravisory Investment Management Inc. grew its position in Dover Corporation by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 3,323 shares of the industrial products company’s stock valued at $267,000 after purchasing an additional 23 shares during the period. FineMark National Bank & Trust grew its position in Dover Corporation by 0.7% in the 2nd quarter. FineMark National Bank & Trust now owns 3,292 shares of the industrial products company’s stock valued at $264,000 after purchasing an additional 23 shares during the period. Finally, Patten Group Inc. grew its position in Dover Corporation by 0.5% in the 1st quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 25 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

DOV has been the subject of several research reports. 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. BMO Capital Markets reissued a “buy” rating and issued a $94.00 price target on shares of Dover Corporation in a research report on Sunday, August 27th. SunTrust Banks, Inc. reissued a “hold” rating and issued a $90.00 price target on shares of Dover Corporation in a research report on Thursday, October 12th. 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, Citigroup Inc. reissued a “neutral” rating and issued a $96.00 price target (up previously from $90.00) on shares of Dover Corporation in a research report on Monday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Dover Corporation currently has a consensus rating of “Hold” and an average target price of $94.69.

Dover Corporation (NYSE DOV) remained flat at $95.85 during midday trading on Tuesday. The company’s stock had a trading volume of 79,798 shares. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $97.09. The stock’s 50 day moving average price is $92.75 and its 200 day moving average price is $85.21. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 23.96 and a beta of 1.27.

Dover Corporation (NYSE:DOV) last released its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm posted $0.83 earnings per share. Dover Corporation’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts expect that Dover Corporation will post $4.31 EPS for the current fiscal year.

In related news, Director Michael B. Stubbs sold 41,505 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $95.67, for a total transaction of $3,970,783.35. Following the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $26,342,160.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly owns 275,344 shares in the company, valued at $23,965,941.76. The disclosure for this sale can be found here. Insiders have sold 79,400 shares of company stock worth $7,383,952 over the last ninety days. 2.50% of the stock is currently owned by insiders.

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About Dover Corporation

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.

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

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