Schwartz Investment Counsel Inc. Sells 15,000 Shares of Dover Corporation (DOV)

Schwartz Investment Counsel Inc. reduced its holdings in shares of Dover Corporation (NYSE:DOV) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,500 shares of the industrial products company’s stock after selling 15,000 shares during the period. Schwartz Investment Counsel Inc. owned 0.10% of Dover Corporation worth $13,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Farmers National Bank lifted its position in Dover Corporation by 0.3% during the 1st 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 during the period. Citizens Financial Group Inc RI lifted its position in Dover Corporation by 0.3% during 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 acquiring an additional 15 shares during the period. Contravisory Investment Management Inc. lifted its position in Dover Corporation by 0.7% during the 2nd 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 during the period. FineMark National Bank & Trust lifted its position in Dover Corporation by 0.7% during the 2nd 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 during the period. Finally, Patten Group Inc. lifted its position in Dover Corporation by 0.5% during the 1st quarter. Patten Group Inc. now owns 5,207 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 25 shares during the period. 85.19% of the stock is owned by institutional investors.

In related news, VP Paul Goldberg sold 4,400 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $95.25, for a total value of $419,100.00. Following the sale, the vice president now directly owns 4,070 shares in the company, valued at approximately $387,667.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael B. Stubbs sold 25,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $87.04, for a total transaction of $2,176,000.00. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at $23,965,941.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,400 shares of company stock worth $7,383,952. 2.50% of the stock is owned by insiders.

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Shares of Dover Corporation (NYSE DOV) traded down 0.25% on Tuesday, reaching $95.61. 281,724 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $92.75 and a 200-day moving average price of $85.21. Dover Corporation has a 12-month low of $65.50 and a 12-month high of $97.09. The company has a market cap of $14.89 billion, a PE ratio of 23.90 and a beta of 1.27.

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

A number of brokerages recently issued reports on DOV. Zacks Investment Research cut shares of Dover Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. SunTrust Banks, Inc. reissued a “hold” rating and set a $96.00 price target on shares of Dover Corporation in a research report on Monday, October 23rd. Stifel Nicolaus reissued a “hold” rating and set a $92.00 price target on shares of Dover Corporation in a research report on Tuesday, October 17th. Citigroup Inc. reissued a “neutral” rating and set a $96.00 price target (up from $90.00) on shares of Dover Corporation in a research report on Monday, October 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $106.00 price target (up from $97.00) on shares of Dover Corporation in a research report on Monday, October 2nd. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $94.69.

Dover Corporation 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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