Zurcher Kantonalbank Zurich Cantonalbank Lowers Holdings in Dover Corp (NYSE:DOV)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Dover Corp (NYSE:DOV) by 53.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,355 shares of the industrial products company’s stock after selling 71,508 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dover were worth $6,118,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its stake in Dover by 13.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 19,816 shares of the industrial products company’s stock valued at $1,913,000 after buying an additional 2,284 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of Dover by 3.4% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 13,877 shares of the industrial products company’s stock worth $1,340,000 after purchasing an additional 457 shares during the last quarter. Parthenon LLC raised its stake in shares of Dover by 2.2% in the second quarter. Parthenon LLC now owns 113,760 shares of the industrial products company’s stock worth $10,985,000 after purchasing an additional 2,480 shares during the last quarter. Dupont Capital Management Corp raised its stake in shares of Dover by 10.2% in the second quarter. Dupont Capital Management Corp now owns 12,416 shares of the industrial products company’s stock worth $1,199,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Dover by 27.5% in the second quarter. Strs Ohio now owns 282,557 shares of the industrial products company’s stock worth $27,283,000 after purchasing an additional 61,001 shares during the last quarter. Institutional investors and hedge funds own 83.76% of the company’s stock.

Shares of DOV opened at $102.93 on Friday. The business has a fifty day moving average of $98.46 and a 200 day moving average of $98.71. Dover Corp has a one year low of $62.95 and a one year high of $120.26. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.32 and a quick ratio of 0.91. The firm has a market capitalization of $15.05 billion, a P/E ratio of 22.28, a PEG ratio of 1.75 and a beta of 1.39.

Dover (NYSE:DOV) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.20. Dover had a return on equity of 27.33% and a net margin of 9.99%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. Dover’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts expect that Dover Corp will post 5.19 EPS for the current fiscal year.

DOV has been the subject of several recent analyst reports. Oppenheimer restated a “hold” rating on shares of Dover in a research note on Wednesday, July 22nd. Barclays decreased their price target on Dover from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Robert W. Baird upgraded Dover from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a research note on Friday, July 17th. They noted that the move was a valuation call. Deutsche Bank cut their price objective on Dover from $127.00 to $99.00 and set a “hold” rating for the company in a report on Thursday, April 9th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Dover in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $102.11.

Dover Company 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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