Comerica Bank raised its stake in shares of Dover Corporation (NYSE:DOV) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,809 shares of the industrial products company’s stock after purchasing an additional 13,670 shares during the period. Comerica Bank owned 0.07% of Dover Corporation worth $10,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Dover Corporation by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 16,549,433 shares of the industrial products company’s stock valued at $1,327,596,000 after buying an additional 370,572 shares in the last quarter. BlackRock Inc. raised its position in shares of Dover Corporation by 3.9% during the 2nd quarter. BlackRock Inc. now owns 10,314,301 shares of the industrial products company’s stock valued at $827,412,000 after buying an additional 389,449 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Dover Corporation by 0.3% during the 3rd quarter. Pzena Investment Management LLC now owns 5,613,811 shares of the industrial products company’s stock valued at $513,046,000 after buying an additional 14,504 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Dover Corporation by 11.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,962,208 shares of the industrial products company’s stock valued at $398,069,000 after buying an additional 511,469 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Dover Corporation by 5.2% during the 2nd quarter. Wells Fargo & Company MN now owns 3,132,315 shares of the industrial products company’s stock valued at $251,274,000 after buying an additional 154,678 shares in the last quarter. 85.01% of the stock is owned by institutional investors and hedge funds.

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

Shares of Dover Corporation (DOV) traded up $1.31 during trading on Friday, hitting $94.01. 956,900 shares of the company traded hands, compared to its average volume of 1,239,058. Dover Corporation has a 12-month low of $68.10 and a 12-month high of $97.09. The company has a current ratio of 1.32, a quick ratio of 0.87 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $14,441.83, a PE ratio of 25.68, a PEG ratio of 1.81 and a beta of 1.28.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.47 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.88 annualized dividend and a dividend yield of 2.00%. Dover Corporation’s dividend payout ratio (DPR) is 43.72%.

In other news, Director Michael B. Stubbs sold 41,505 shares of Dover Corporation stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $95.67, for a total value of $3,970,783.35. Following the sale, the director now owns 275,344 shares in the company, valued at $26,342,160.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Stubbs sold 8,495 shares of Dover Corporation stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $96.30, for a total transaction of $818,068.50. Following the completion of the sale, the director now owns 275,344 shares in the company, valued at approximately $26,515,627.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,830 shares of company stock worth $5,435,157. Company insiders own 2.50% of the company’s stock.

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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