Dover Co. (NYSE:DOV) Shares Sold by Stephens Inc. AR

Stephens Inc. AR reduced its position in shares of Dover Co. (NYSE:DOVGet Rating) by 8.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,075 shares of the industrial products company’s stock after selling 363 shares during the period. Stephens Inc. AR’s holdings in Dover were worth $639,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Dover by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,307,889 shares of the industrial products company’s stock valued at $2,053,514,000 after acquiring an additional 54,785 shares in the last quarter. BlackRock Inc. raised its position in shares of Dover by 2.1% during the 4th quarter. BlackRock Inc. now owns 10,713,313 shares of the industrial products company’s stock valued at $1,945,538,000 after acquiring an additional 220,569 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Dover by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 2,656,593 shares of the industrial products company’s stock valued at $481,176,000 after acquiring an additional 121,884 shares in the last quarter. Northern Trust Corp raised its position in shares of Dover by 2.3% during the 4th quarter. Northern Trust Corp now owns 1,878,603 shares of the industrial products company’s stock valued at $341,154,000 after acquiring an additional 42,032 shares in the last quarter. Finally, Norges Bank bought a new position in Dover during the 4th quarter worth $249,199,000. 84.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOV. Mizuho lowered their price objective on Dover from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Barclays lowered their price objective on Dover from $140.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Robert W. Baird lowered their price objective on Dover from $194.00 to $169.00 in a research note on Thursday, April 21st. Wells Fargo & Company upped their price objective on Dover to $135.00 in a research note on Friday, July 22nd. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Hold” and an average target price of $161.17.

Dover Trading Down 0.9 %

Shares of DOV stock opened at $131.13 on Wednesday. The stock has a 50-day simple moving average of $126.00 and a 200 day simple moving average of $143.50. Dover Co. has a fifty-two week low of $116.66 and a fifty-two week high of $184.04. The stock has a market capitalization of $18.82 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.12 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.41 and a debt-to-equity ratio of 0.67.

Dover (NYSE:DOVGet Rating) last announced its earnings results on Thursday, July 21st. The industrial products company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.07. Dover had a return on equity of 26.94% and a net margin of 13.90%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the business posted $2.06 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Dover Co. will post 8.5 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, May 27th. Dover’s dividend payout ratio is 25.45%.

Dover Profile

(Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Further Reading

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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