Dover Corporation $DOV Shares Sold by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC lowered its position in shares of Dover Corporation (NYSE:DOV) by 43.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,163 shares of the industrial products company’s stock after selling 7,718 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Dover were worth $1,862,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Financial Advisors Inc. grew its holdings in Dover by 1.4% during the first quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after acquiring an additional 57 shares during the period. Summit Financial LLC grew its stake in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock worth $1,159,000 after acquiring an additional 60 shares during the period. Harbour Investments Inc. increased its stake in Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 60 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Dover by 0.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock valued at $1,266,000 after purchasing an additional 60 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Dover by 0.3% during 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 buying an additional 67 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 0.6%

NYSE:DOV opened at $178.50 on Friday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The company has a market cap of $24.48 billion, a PE ratio of 10.98, a P/E/G ratio of 1.40 and a beta of 1.29. The business’s 50 day moving average is $171.96 and its two-hundred day moving average is $177.07.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion during the quarter. On average, analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.2%. Dover’s dividend payout ratio (DPR) is currently 12.79%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DOV. Weiss Ratings lowered shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. JPMorgan Chase & Co. increased their target price on Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Citigroup reissued a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Royal Bank Of Canada increased their price objective on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company boosted their target price on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.55.

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.