Tributary Capital Management LLC Cuts Stake in Dover Corp (DOV)

Tributary Capital Management LLC cut its position in Dover Corp (NYSE:DOV) by 45.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm 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 quarter.

Several other hedge funds have also recently made changes to their positions in DOV. Summit Trail Advisors LLC increased its holdings in shares of Dover by 4,425.8% in the first quarter. Summit Trail Advisors LLC now owns 106,446 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 104,094 shares during the period. Fort L.P. acquired a new position in shares of Dover in the second quarter valued at about $118,000. Winthrop Partners WNY LLC acquired a new position in shares of Dover in the first quarter valued at about $126,000. Centaurus Financial Inc. acquired a new position in shares of Dover in the second quarter valued at about $127,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Dover in the second quarter valued at about $133,000. 90.85% of the stock is currently owned by institutional investors and hedge funds.

DOV has been the topic of a number of research reports. William Blair reissued a “market perform” rating on shares of Dover in a report on Tuesday, July 3rd. Barclays lowered their target price on Dover from $94.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Citigroup lowered their target price on Dover from $86.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 11th. MED started coverage on Dover in a research note on Thursday, July 12th. They issued a “hold” rating and a $79.00 target price on the stock. Finally, Deutsche Bank set a $79.00 target price on Dover and gave the stock a “hold” rating in a research note on Thursday, July 12th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Dover has an average rating of “Hold” and an average price target of $90.77.

Shares of DOV opened at $83.49 on Friday. Dover Corp has a 52 week low of $70.12 and a 52 week 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 stock has a market capitalization of $12.15 billion, a PE ratio of 17.31, a P/E/G ratio of 1.42 and a beta of 1.34.

Dover (NYSE:DOV) last issued its earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.07. Dover had a return on equity of 18.66% and a net margin of 9.64%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. On average, research 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 stock was sold at an average price of $82.75, for a total transaction of $4,137,500.00. Following the transaction, the director now 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 is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.

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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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