Boston Partners Sells 537,203 Shares of Dover Corporation (NYSE:DOV)

Boston Partners cut its holdings in shares of Dover Corporation (NYSE:DOV) by 39.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 837,990 shares of the industrial products company’s stock after selling 537,203 shares during the quarter. Boston Partners owned approximately 0.61% of Dover worth $147,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Dover by 0.7% during the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock valued at $2,870,986,000 after purchasing an additional 106,679 shares in the last quarter. Nuveen LLC purchased a new position in shares of Dover during the first quarter valued at about $526,081,000. Adage Capital Partners GP L.L.C. grew its position in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares in the last quarter. Northern Trust Corp grew its position in shares of Dover by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock valued at $323,896,000 after purchasing an additional 245,535 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Dover by 7.9% during the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after purchasing an additional 93,483 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of a number of research analyst reports. Mizuho raised their price objective on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Barclays raised their price objective on Dover from $185.00 to $193.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Wells Fargo & Company raised their price objective on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Royal Bank Of Canada raised their price objective on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Finally, Citigroup reiterated a “buy” rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $213.92.

Dover Trading Up 2.7%

DOV opened at $182.79 on Thursday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a 50-day moving average of $182.31 and a 200 day moving average of $181.91. The firm has a market cap of $25.07 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $2.36 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover’s dividend payout ratio (DPR) is presently 12.42%.

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 vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.