Fulton Bank N.A. Sells 125 Shares of Dover Co. (NYSE:DOV)

Fulton Bank N.A. cut its position in Dover Co. (NYSE:DOVGet Rating) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 4,103 shares of the industrial products company’s stock after selling 125 shares during the quarter. Fulton Bank N.A.’s holdings in Dover were worth $498,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DOV. Norges Bank purchased a new position in Dover during the fourth quarter valued at $249,199,000. JPMorgan Chase & Co. grew its stake in Dover by 6.5% during the first quarter. JPMorgan Chase & Co. now owns 12,039,850 shares of the industrial products company’s stock valued at $1,889,052,000 after acquiring an additional 731,961 shares in the last quarter. Millennium Management LLC lifted its position in Dover by 277.1% during the fourth quarter. Millennium Management LLC now owns 803,269 shares of the industrial products company’s stock valued at $145,874,000 after purchasing an additional 590,242 shares during the last quarter. Ceredex Value Advisors LLC bought a new position in Dover during the first quarter valued at $83,771,000. Finally, Castleview Partners LLC bought a new position in Dover during the fourth quarter valued at $2,881,000. 83.96% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Down 1.3 %

Shares of DOV opened at $120.91 on Friday. The stock has a market capitalization of $17.36 billion, a PE ratio of 15.38, a P/E/G ratio of 1.03 and a beta of 1.39. Dover Co. has a 1 year low of $116.66 and a 1 year high of $184.04. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.41. The company’s 50-day simple moving average is $129.72 and its 200-day simple moving average is $135.82.

Dover (NYSE:DOVGet Rating) last released its earnings results on Thursday, July 21st. The industrial products company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Dover Co. will post 8.5 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Dover’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, August 30th. Dover’s dividend payout ratio is presently 25.70%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DOV shares. Mizuho lowered their price objective on shares of Dover from $175.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 18th. Barclays lowered their price objective on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. Morgan Stanley lowered their target price on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating for the company in a report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Dover from $135.00 to $132.00 in a report on Friday, July 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Dover from $176.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.17.

Dover Company Profile

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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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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