Dover Corp (DOV) Stake Lessened by Tributary Capital Management LLC

Share on StockTwits

Tributary Capital Management LLC trimmed its position in Dover Corp (NYSE:DOV) by 45.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,394 shares of the industrial products company’s stock after selling 7,900 shares during the period. Tributary Capital Management LLC’s holdings in Dover were worth $832,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Baird Financial Group Inc. raised its stake in Dover by 10.0% in the second quarter. Baird Financial Group Inc. now owns 6,905 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 629 shares in the last quarter. United Capital Financial Advisers LLC raised its stake in Dover by 23.0% in the first quarter. United Capital Financial Advisers LLC now owns 3,532 shares of the industrial products company’s stock valued at $347,000 after purchasing an additional 660 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Dover by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 67,485 shares of the industrial products company’s stock valued at $4,940,000 after purchasing an additional 685 shares in the last quarter. BB&T Securities LLC raised its stake in Dover by 7.3% in the second quarter. BB&T Securities LLC now owns 10,094 shares of the industrial products company’s stock valued at $738,000 after purchasing an additional 689 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Dover by 5.4% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 13,495 shares of the industrial products company’s stock valued at $1,195,000 after purchasing an additional 693 shares in the last quarter. 90.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE DOV opened at $83.49 on Friday. Dover Corp has a one year low of $70.12 and a one year high of $90.26. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. Dover had a net margin of 9.64% and a return on equity of 18.66%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that Dover Corp will post 4.82 EPS for the current fiscal year.

In other Dover news, Director Kristiane C. Graham sold 50,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the transaction, the director now directly owns 367,324 shares in the company, valued at $30,396,061. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on DOV shares. ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Oppenheimer reaffirmed a “hold” rating on shares of Dover in a research note on Tuesday, September 11th. MED started coverage on shares of Dover in a research note on Thursday, July 12th. They issued a “hold” rating and a $79.00 target price on the stock. Barclays lowered their target price on shares of Dover from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Finally, Gordon Haskett started coverage on shares of Dover in a research note on Friday, October 12th. They issued a “buy” rating on the stock. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Dover has an average rating of “Hold” and a consensus price target of $90.77.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in 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 clamps, 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.

Further Reading: What does the Dow Jones Industrial Average (DJIA) measure?

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply