Kestra Private Wealth Services LLC Reduces Stake in Dover Co. (NYSE:DOV)

Kestra Private Wealth Services LLC cut its holdings in Dover Co. (NYSE:DOVGet Rating) by 32.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,124 shares of the industrial products company’s stock after selling 2,012 shares during the period. Kestra Private Wealth Services LLC’s holdings in Dover were worth $647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Dover by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock valued at $2,650,899,000 after acquiring an additional 224,091 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Dover by 6.5% during the first quarter. JPMorgan Chase & Co. now owns 12,039,850 shares of the industrial products company’s stock worth $1,889,052,000 after buying an additional 731,961 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Dover by 0.5% during the first quarter. BlackRock Inc. now owns 10,761,653 shares of the industrial products company’s stock worth $1,688,503,000 after buying an additional 48,340 shares in the last quarter. Boston Partners grew its position in Dover by 1.1% during the first quarter. Boston Partners now owns 4,304,635 shares of the industrial products company’s stock valued at $675,288,000 after acquiring an additional 45,804 shares during the period. Finally, Geode Capital Management LLC grew its position in Dover by 4.8% during the fourth 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 during the period. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of Dover from $176.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Mizuho decreased their price target 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. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Morgan Stanley dropped their target price on Dover from $161.00 to $149.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 31st. Finally, Wells Fargo & Company raised their target price on Dover to $135.00 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of “Hold” and a consensus target price of $161.17.

Dover Trading Down 1.3 %

NYSE DOV opened at $120.91 on Monday. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.41 and a quick ratio of 0.87. Dover Co. has a 12 month low of $116.66 and a 12 month high of $184.04. The company’s fifty day moving average price is $129.72 and its two-hundred day moving average price is $135.67.

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

Dover Increases Dividend

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

About Dover

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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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