MAI Capital Management Has $283,000 Position in Dover Corp (DOV)

MAI Capital Management decreased its position in Dover Corp (NYSE:DOV) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,018 shares of the industrial products company’s stock after selling 295 shares during the period. MAI Capital Management’s holdings in Dover were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its stake in Dover by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,761 shares of the industrial products company’s stock worth $480,000 after buying an additional 119 shares during the period. Trust Co. of Vermont raised its stake in shares of Dover by 0.9% in the 4th quarter. Trust Co. of Vermont now owns 14,585 shares of the industrial products company’s stock valued at $1,035,000 after purchasing an additional 124 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of Dover by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 15,044 shares of the industrial products company’s stock valued at $1,067,000 after purchasing an additional 127 shares during the period. Gofen & Glossberg LLC IL raised its stake in shares of Dover by 1.5% in the 1st quarter. Gofen & Glossberg LLC IL now owns 8,627 shares of the industrial products company’s stock valued at $809,000 after purchasing an additional 127 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Dover by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 15,442 shares of the industrial products company’s stock valued at $1,095,000 after purchasing an additional 136 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Wednesday, March 27th. ValuEngine upgraded Dover from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Robert W. Baird cut Dover from an “outperform” rating to a “neutral” rating in a report on Monday, April 22nd. SunTrust Banks raised their price objective on Dover to $91.00 and gave the company a “hold” rating in a report on Wednesday, January 30th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price objective on Dover from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Friday, March 8th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $94.10.

Shares of NYSE:DOV traded down $0.17 during trading on Friday, reaching $90.90. 478,464 shares of the stock were exchanged, compared to its average volume of 1,015,394. Dover Corp has a 12 month low of $65.83 and a 12 month high of $99.46. The stock has a market cap of $13.52 billion, a PE ratio of 18.29, a P/E/G ratio of 1.45 and a beta of 1.49. The company has a quick ratio of 0.87, a current ratio of 1.30 and a debt-to-equity ratio of 1.04.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.12. Dover had a net margin of 7.69% and a return on equity of 28.48%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Dover Corp will post 5.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.92 annualized dividend and a yield of 2.11%. Dover’s dividend payout ratio is currently 38.63%.

In other Dover news, VP Anthony K. Kosinski sold 4,241 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $90.53, for a total transaction of $383,937.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Carrie L. Anderson sold 9,038 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total transaction of $831,044.10. Following the transaction, the vice president now owns 4,192 shares of the company’s stock, valued at $385,454.40. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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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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