Iberiabank Corp Buys Shares of 2,484 Dover Corp (NYSE:DOV)

Iberiabank Corp bought a new position in Dover Corp (NYSE:DOV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,484 shares of the industrial products company’s stock, valued at approximately $240,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its stake in Dover by 9.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 496,614 shares of the industrial products company’s stock worth $41,686,000 after buying an additional 43,007 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Dover by 14.5% during the second quarter. Envestnet Asset Management Inc. now owns 140,404 shares of the industrial products company’s stock worth $13,557,000 after acquiring an additional 17,792 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Dover by 71.1% during the first quarter. Treasurer of the State of North Carolina now owns 59,854 shares of the industrial products company’s stock valued at $5,024,000 after acquiring an additional 24,866 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Dover by 634.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 15,130 shares of the industrial products company’s stock valued at $1,461,000 after acquiring an additional 13,070 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its position in shares of Dover by 10.1% in the 2nd quarter. Congress Asset Management Co. MA now owns 573,619 shares of the industrial products company’s stock valued at $55,389,000 after purchasing an additional 52,648 shares during the last quarter. 83.76% of the stock is owned by institutional investors and hedge funds.

Dover stock opened at $102.93 on Friday. The business’s 50-day moving average price is $98.46 and its 200 day moving average price is $98.71. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.97. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39. Dover Corp has a 52 week low of $62.95 and a 52 week high of $120.26.

Dover (NYSE:DOV) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.20. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. Dover had a return on equity of 27.33% and a net margin of 9.99%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS. Equities analysts expect that Dover Corp will post 5.19 EPS for the current year.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Thursday, July 16th. Morgan Stanley raised their target price on Dover from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Seaport Global Securities reaffirmed a “neutral” rating on shares of Dover in a research report on Thursday, July 23rd. Robert W. Baird raised Dover from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a report on Friday, July 17th. They noted that the move was a valuation call. Finally, Barclays decreased their target price on Dover from $107.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Dover presently has a consensus rating of “Buy” and a consensus target price of $102.11.

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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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