Twin Capital Management Inc. Reduces Stock Holdings in Dover Corp (NYSE:DOV)

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Twin Capital Management Inc. decreased its stake in Dover Corp (NYSE:DOV) by 32.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,980 shares of the industrial products company’s stock after selling 36,180 shares during the quarter. Twin Capital Management Inc. owned about 0.05% of Dover worth $7,613,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Unigestion Holding SA boosted its holdings in shares of Dover by 1.4% in the 2nd quarter. Unigestion Holding SA now owns 7,463 shares of the industrial products company’s stock worth $748,000 after purchasing an additional 104 shares during the period. Parallel Advisors LLC lifted its stake in shares of Dover by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 1,368 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 117 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Dover by 0.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 15,172 shares of the industrial products company’s stock worth $1,423,000 after acquiring an additional 128 shares during the last quarter. Hartford Investment Management Co. lifted its stake in shares of Dover by 0.7% during the 2nd quarter. Hartford Investment Management Co. now owns 18,420 shares of the industrial products company’s stock worth $1,846,000 after acquiring an additional 128 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Dover by 9.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,600 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.

In other Dover news, insider Jay L. Kloosterboer sold 15,416 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $98.00, for a total transaction of $1,510,768.00. Following the completion of the transaction, the insider now owns 24,425 shares of the company’s stock, valued at $2,393,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William Spurgeon sold 20,049 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $98.42, for a total value of $1,973,222.58. Following the transaction, the vice president now directly owns 5,296 shares of the company’s stock, valued at approximately $521,232.32. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

DOV has been the subject of a number of research analyst reports. Deutsche Bank set a $102.00 price target on Dover and gave the stock a “hold” rating in a research note on Monday, April 22nd. Robert W. Baird lowered Dover from an “outperform” rating to a “neutral” rating in a research note on Monday, April 22nd. Royal Bank of Canada set a $94.00 price target on Dover and gave the stock a “hold” rating in a research note on Friday, July 19th. Citigroup set a $114.00 price target on Dover and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, ValuEngine lowered Dover from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.76.

Dover stock traded up $0.31 during trading hours on Thursday, hitting $88.60. 245,162 shares of the stock traded hands, compared to its average volume of 993,255. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 0.91. The firm’s 50 day moving average price is $97.29. The firm has a market capitalization of $13.11 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.48. Dover Corp has a 1 year low of $65.83 and a 1 year high of $103.47.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.01. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.86 billion. Dover had a return on equity of 29.22% and a net margin of 8.50%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. Sell-side analysts expect that Dover Corp will post 5.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Dover’s previous quarterly dividend of $0.48. Dover’s payout ratio is presently 38.63%.

Dover 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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