Raymond James & Associates Raises Stock Position in Dover Corp (NYSE:DOV)

Raymond James & Associates lifted its stake in Dover Corp (NYSE:DOV) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,389 shares of the industrial products company’s stock after purchasing an additional 596 shares during the period. Raymond James & Associates owned 0.14% of Dover worth $19,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC raised its stake in Dover by 15.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 651 shares of the industrial products company’s stock worth $75,000 after buying an additional 88 shares in the last quarter. Patten Group Inc. raised its position in shares of Dover by 2.5% in the 2nd quarter. Patten Group Inc. now owns 4,572 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 110 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in shares of Dover by 26.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 587 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 121 shares during the period. Raymond James Trust N.A. boosted its position in shares of Dover by 4.8% during the second quarter. Raymond James Trust N.A. now owns 3,294 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 150 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Dover by 0.4% in the first quarter. Jane Street Group LLC now owns 42,230 shares of the industrial products company’s stock worth $3,545,000 after purchasing an additional 154 shares during the period. 83.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DOV opened at $102.93 on Friday. Dover Corp has a twelve month low of $62.95 and a twelve month high of $120.26. The company has a market capitalization of $14.82 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39. The firm has a 50 day moving average of $98.46 and a 200 day moving average of $98.71. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.97.

Dover (NYSE:DOV) last posted its earnings results on Wednesday, July 22nd. The industrial products company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.20. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Dover had a return on equity of 27.33% and a net margin of 9.99%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.56 EPS. On average, sell-side analysts expect that Dover Corp will post 5.19 EPS for the current year.

DOV has been the topic of a number of research reports. Seaport Global Securities restated a “neutral” rating on shares of Dover in a report on Thursday, July 23rd. Robert W. Baird upgraded shares of Dover from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a report on Friday, July 17th. They noted that the move was a valuation call. Morgan Stanley raised their target price on shares of Dover from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research report on Thursday, July 16th. Finally, Deutsche Bank reduced their price objective on Dover from $127.00 to $99.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Dover currently has an average rating of “Buy” and a consensus target price of $102.11.

About Dover

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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