HGK Asset Management Inc. lessened its stake in shares of Dover Corp (NYSE:DOV) by 6.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 60,690 shares of the industrial products company’s stock after selling 4,513 shares during the period. Dover accounts for about 1.8% of HGK Asset Management Inc.’s portfolio, making the stock its 24th largest position. HGK Asset Management Inc.’s holdings in Dover were worth $6,081,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Pinnacle Bank acquired a new stake in shares of Dover during the fourth quarter worth $28,000. NuWave Investment Management LLC boosted its holdings in Dover by 229.1% in the second quarter. NuWave Investment Management LLC now owns 283 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 197 shares during the last quarter. Country Trust Bank acquired a new position in Dover in the second quarter valued at $30,000. CWM LLC boosted its holdings in Dover by 378.6% in the first quarter. CWM LLC now owns 493 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 390 shares during the last quarter. Finally, Hanson & Doremus Investment Management acquired a new position in Dover in the second quarter valued at $50,000. Hedge funds and other institutional investors own 84.87% of the company’s stock.

In other news, insider Jay L. Kloosterboer sold 15,416 shares of Dover stock in a transaction dated 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 sale, the insider now directly owns 24,425 shares of the company’s stock, valued at $2,393,650. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William Spurgeon sold 20,049 shares of Dover stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $98.42, for a total value of $1,973,222.58. Following the sale, the vice president now directly owns 5,296 shares in the company, valued at $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 topic of a number of research analyst reports. Robert W. Baird initiated coverage on Rocket Pharmaceuticals in a report on Monday, April 22nd. They issued an “outperform” rating on the stock. Deutsche Bank raised their price objective on Keysight Technologies from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Morgan Stanley lowered Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a research report on Monday, April 22nd. Royal Bank of Canada set a $311.00 price objective on UnitedHealth Group and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Citigroup set a $317.00 price objective on Mastercard and gave the company a “buy” rating in a research report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $98.76.

Shares of NYSE DOV traded down $0.74 during midday trading on Monday, reaching $97.47. 14,611 shares of the company’s stock were exchanged, compared to its average volume of 1,035,663. Dover Corp has a 52-week low of $65.83 and a 52-week high of $103.47. The company has a market capitalization of $14.28 billion, a PE ratio of 19.61, a PEG ratio of 1.46 and a beta of 1.49. 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 stock’s fifty day moving average price is $98.54.

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

Dover Company 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.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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