Dover Corp (DOV) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. trimmed its holdings in shares of Dover Corp (NYSE:DOV) by 24.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,804 shares of the industrial products company’s stock after selling 891 shares during the quarter. Raymond James Trust N.A.’s holdings in Dover were worth $248,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Dover by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock valued at $781,489,000 after purchasing an additional 288,630 shares during the last quarter. Bank of America Corp DE grew its stake in Dover by 15.9% in the second quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock valued at $388,283,000 after purchasing an additional 726,930 shares during the last quarter. Boston Partners grew its stake in Dover by 110.3% in the second quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock valued at $375,601,000 after purchasing an additional 2,691,480 shares during the last quarter. Third Point LLC grew its stake in Dover by 2.0% in the second quarter. Third Point LLC now owns 4,000,000 shares of the industrial products company’s stock valued at $292,800,000 after purchasing an additional 80,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Dover by 5.7% in the third quarter. Bank of New York Mellon Corp now owns 2,380,997 shares of the industrial products company’s stock valued at $210,788,000 after purchasing an additional 129,276 shares during the last quarter. Institutional investors and hedge funds own 90.84% of the company’s stock.

In other news, Director Mary A. Winston sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total transaction of $164,580.00. Following the sale, the director now owns 13,055 shares in the company, valued at $1,074,295.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Several equities analysts have issued reports on the company. Bank of America lifted their target price on Dover from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Barclays lifted their target price on Dover to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, September 12th. Stifel Nicolaus lifted their target price on Dover from $85.00 to $92.00 and gave the company a “hold” rating in a research note on Wednesday, September 12th. Oppenheimer reiterated a “hold” rating on shares of Dover in a research note on Tuesday, September 11th. Finally, Royal Bank of Canada lifted their target price on Dover to $86.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 12th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Dover has a consensus rating of “Hold” and a consensus target price of $89.77.

DOV opened at $86.16 on Tuesday. Dover Corp has a 1 year low of $70.12 and a 1 year high of $90.26. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.46 and a beta of 1.34. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 1.30.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.07. Dover had a return on equity of 21.22% and a net margin of 9.69%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Sell-side analysts predict that Dover Corp will post 4.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.23%. Dover’s payout ratio is 47.64%.

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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 in 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 clamps, 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.

Featured Story: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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