Channing Capital Management LLC Lowers Holdings in Dover Corporation (DOV)

Channing Capital Management LLC lessened its position in shares of Dover Corporation (NYSE:DOV) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,443 shares of the industrial products company’s stock after selling 2,097 shares during the period. Channing Capital Management LLC’s holdings in Dover Corporation were worth $1,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of DOV. IFP Advisors Inc grew its position in Dover Corporation by 15.1% during the second quarter. IFP Advisors Inc now owns 1,728 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 227 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Dover Corporation by 388.2% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 1,347 shares during the period. Penserra Capital Management LLC grew its position in Dover Corporation by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,236 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 258 shares during the period. First Mercantile Trust Co. grew its position in Dover Corporation by 10.1% during the second quarter. First Mercantile Trust Co. now owns 2,327 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 213 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Dover Corporation during the second quarter worth about $205,000. 85.19% of the stock is owned by hedge funds and other institutional investors.

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Shares of Dover Corporation (NYSE DOV) opened at $95.92 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $14,943.47, a PE ratio of 26.57, a P/E/G ratio of 1.87 and a beta of 1.28. Dover Corporation has a fifty-two week low of $65.50 and a fifty-two week high of $97.09.

Dover Corporation (NYSE:DOV) last announced its quarterly earnings data on Thursday, October 19th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. Dover Corporation had a return on equity of 14.10% and a net margin of 8.91%. Dover Corporation’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. equities analysts anticipate that Dover Corporation will post 3.94 EPS for the current year.

A number of research analysts have commented on DOV shares. Robert W. Baird set a $91.00 price objective on Dover Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. BMO Capital Markets restated a “buy” rating and set a $94.00 price objective on shares of Dover Corporation in a research note on Sunday, August 27th. SunTrust Banks, Inc. restated a “hold” rating and set a $90.00 price objective on shares of Dover Corporation in a research note on Thursday, October 12th. Zacks Investment Research cut Dover Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, Citigroup Inc. restated a “neutral” rating and set a $96.00 price objective (up previously from $90.00) on shares of Dover Corporation in a research note on Monday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $94.69.

In related news, Director Michael B. Stubbs sold 8,495 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $96.30, for a total value of $818,068.50. Following the completion of the sale, the director now directly owns 275,344 shares of the company’s stock, valued at $26,515,627.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the vice president now directly owns 4,070 shares of the company’s stock, valued at $387,667.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,400 shares of company stock valued at $5,207,952. 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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