Ethic Inc. Has $6.03 Million Stock Holdings in Dover Corporation $DOV

Ethic Inc. trimmed its position in Dover Corporation (NYSE:DOV) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,892 shares of the industrial products company’s stock after selling 871 shares during the period. Ethic Inc.’s holdings in Dover were worth $6,029,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Legacy Financial Advisors Inc. raised its position in shares of Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock valued at $726,000 after acquiring an additional 57 shares during the period. Summit Financial LLC raised its position in shares of Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after acquiring an additional 60 shares during the period. Harbour Investments Inc. raised its position in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Dover by 0.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company’s stock valued at $3,971,000 after acquiring an additional 67 shares during the period. Finally, Rockland Trust Co. raised its position in shares of Dover by 0.4% in the 2nd quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company’s stock valued at $2,819,000 after acquiring an additional 68 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

Shares of DOV opened at $167.37 on Thursday. The company has a market cap of $22.95 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.38 and a beta of 1.26. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company’s fifty day simple moving average is $172.07 and its 200 day simple moving average is $175.46. 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 released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. On average, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Dover’s dividend payout ratio (DPR) is currently 12.55%.

Analyst Ratings Changes

DOV has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Robert W. Baird raised their target price on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Barclays dropped their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Citigroup restated a “buy” rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, Wells Fargo & Company dropped their target price on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.25.

Dover Company 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.