Eagle Ridge Investment Management lowered its stake in shares of Dover Corp (NYSE:DOV) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,840 shares of the industrial products company’s stock after selling 650 shares during the quarter. Eagle Ridge Investment Management’s holdings in Dover were worth $685,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of DOV. Boston Partners increased its stake in shares of Dover by 29.2% during the 1st quarter. Boston Partners now owns 7,642,284 shares of the industrial products company’s stock valued at $716,846,000 after acquiring an additional 1,728,856 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Dover by 157.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 313,429 shares of the industrial products company’s stock valued at $29,399,000 after acquiring an additional 191,688 shares during the last quarter. BlackRock Inc. increased its stake in shares of Dover by 1.4% during the 1st quarter. BlackRock Inc. now owns 11,983,312 shares of the industrial products company’s stock valued at $1,124,033,000 after acquiring an additional 161,427 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Dover by 70.5% during the 1st quarter. Principal Financial Group Inc. now owns 376,307 shares of the industrial products company’s stock valued at $35,298,000 after acquiring an additional 155,552 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of Dover by 31.3% during the 1st quarter. State of Wisconsin Investment Board now owns 651,726 shares of the industrial products company’s stock valued at $61,132,000 after acquiring an additional 155,532 shares during the last quarter. 84.30% of the stock is owned by institutional investors.
A number of research firms have recently commented on DOV. Barclays upped their price objective on shares of Dover from $111.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada set a $94.00 price objective on shares of Dover and gave the company a “hold” rating in a research note on Friday, July 19th. Citigroup set a $114.00 price objective on shares of Dover and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley boosted their target price on Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Dover presently has an average rating of “Hold” and an average price target of $98.76.
Shares of NYSE:DOV traded up $0.33 during trading on Thursday, reaching $88.62. 20,544 shares of the stock were exchanged, compared to its average volume of 993,255. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.91 and a current ratio of 1.34. Dover Corp has a 12-month low of $65.83 and a 12-month high of $103.47. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.48. The company has a 50-day moving average price of $97.29.
Dover (NYSE:DOV) last issued its earnings results on Thursday, July 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.01. Dover had a return on equity of 29.22% and a net margin of 8.50%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that Dover Corp will post 5.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Dover’s previous quarterly dividend of $0.48. Dover’s payout ratio is presently 38.63%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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