UBS Group AG Sells 11,878 Shares of Dover Co. (NYSE:DOV)

UBS Group AG trimmed its holdings in shares of Dover Co. (NYSE:DOVGet Rating) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 304,911 shares of the industrial products company’s stock after selling 11,878 shares during the quarter. UBS Group AG’s holdings in Dover were worth $36,991,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Crossmark Global Holdings Inc. increased its holdings in Dover by 0.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,354 shares of the industrial products company’s stock valued at $1,625,000 after buying an additional 80 shares during the period. Kinneret Advisory LLC increased its holdings in Dover by 2.2% in the 2nd quarter. Kinneret Advisory LLC now owns 3,795 shares of the industrial products company’s stock valued at $460,000 after buying an additional 80 shares during the period. MAI Capital Management boosted its stake in shares of Dover by 2.4% in the 1st quarter. MAI Capital Management now owns 3,500 shares of the industrial products company’s stock valued at $549,000 after purchasing an additional 82 shares in the last quarter. Glenview Trust Co boosted its stake in shares of Dover by 1.0% in the 2nd quarter. Glenview Trust Co now owns 8,852 shares of the industrial products company’s stock valued at $1,074,000 after purchasing an additional 84 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Dover by 0.3% in the 2nd quarter. Pittenger & Anderson Inc. now owns 34,549 shares of the industrial products company’s stock valued at $4,191,000 after purchasing an additional 87 shares in the last quarter. 83.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Dover from $137.00 to $140.00 in a research note on Friday, October 21st. Morgan Stanley reduced their price target on shares of Dover from $139.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Monday, October 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Dover from $132.00 to $137.00 and gave the company a “hold” rating in a research note on Thursday, October 13th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, November 4th. Finally, Mizuho cut their target price on shares of Dover from $155.00 to $143.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $147.09.

Dover Stock Up 0.4 %

Shares of NYSE DOV opened at $142.76 on Thursday. The company has a market capitalization of $20.04 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.35. Dover Co. has a 52-week low of $114.49 and a 52-week high of $184.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.68 and a current ratio of 1.17. The company’s 50 day moving average price is $127.31 and its 200-day moving average price is $128.29.

Dover (NYSE:DOVGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The industrial products company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 13.93% and a return on equity of 27.62%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.98 EPS. Equities analysts forecast that Dover Co. will post 8.44 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a $0.505 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.41%. Dover’s dividend payout ratio (DPR) is currently 25.09%.

Insider Transactions at Dover

In other news, VP Anthony K. Kosinski sold 2,203 shares of Dover stock in a transaction on Monday, October 24th. The shares were sold at an average price of $126.18, for a total value of $277,974.54. Following the completion of the sale, the vice president now owns 5,353 shares in the company, valued at approximately $675,441.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Dover 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.

Further Reading

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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