Sei Investments Co. Has $18.34 Million Stock Holdings in Dover Co. (NYSE:DOV)

Sei Investments Co. trimmed its holdings in Dover Co. (NYSE:DOV) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,670 shares of the industrial products company’s stock after selling 19,625 shares during the quarter. Sei Investments Co. owned about 0.09% of Dover worth $18,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baird Financial Group Inc. lifted its stake in shares of Dover by 1.9% in the 4th quarter. Baird Financial Group Inc. now owns 68,820 shares of the industrial products company’s stock valued at $9,319,000 after purchasing an additional 1,273 shares during the period. LGT Group Foundation raised its stake in Dover by 118.9% during the 1st quarter. LGT Group Foundation now owns 46,099 shares of the industrial products company’s stock worth $7,004,000 after buying an additional 25,035 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Dover during the 1st quarter worth approximately $206,000. Fund Management at Engine No. 1 LLC acquired a new position in Dover during the 4th quarter worth approximately $209,000. Finally, Venture Visionary Partners LLC acquired a new position in Dover during the 4th quarter worth approximately $215,000. 83.97% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

DOV stock opened at $143.78 on Wednesday. The firm has a market cap of $20.11 billion, a PE ratio of 19.91, a P/E/G ratio of 1.45 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $145.47 and a 200-day moving average of $144.67. Dover Co. has a 12-month low of $114.49 and a 12-month high of $160.66.

Dover (NYSE:DOV) last released its earnings results on Tuesday, July 25th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.21 by ($0.16). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.20 billion. Dover had a net margin of 12.04% and a return on equity of 27.33%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 earnings per share. As a group, sell-side analysts expect that Dover Co. will post 8.89 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.51 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Wednesday, August 30th. Dover’s dividend payout ratio (DPR) is presently 28.25%.

Analyst Ratings Changes

DOV has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Dover from $155.00 to $152.00 in a research note on Monday, July 10th. Robert W. Baird upped their price target on Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 25th. Finally, StockNews.com assumed coverage on Dover in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.38.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's 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.