PNC Financial Services Group Inc. Sells 3,854 Shares of Dover Corporation $DOV

PNC Financial Services Group Inc. lessened its position in shares of Dover Corporation (NYSE:DOV) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,683 shares of the industrial products company’s stock after selling 3,854 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of Dover worth $31,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Machina Capital S.A.S. lifted its holdings in shares of Dover by 38.8% during the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock worth $1,609,000 after buying an additional 2,452 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Dover by 9.3% in the second quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after acquiring an additional 10,581 shares in the last quarter. Hsbc Holdings PLC increased its position in Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after acquiring an additional 268,931 shares during the period. Acadian Asset Management LLC raised its stake in Dover by 1,034.4% in the 1st quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock worth $6,012,000 after purchasing an additional 31,219 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in Dover by 4.8% in the 1st quarter. Raymond James Financial Inc. now owns 171,766 shares of the industrial products company’s stock valued at $30,176,000 after purchasing an additional 7,903 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Down 0.9%

NYSE DOV opened at $181.94 on Friday. The business has a fifty day moving average price of $172.48 and a two-hundred day moving average price of $177.66. The stock has a market capitalization of $24.95 billion, a PE ratio of 11.19, a PEG ratio of 1.40 and a beta of 1.29. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $1.78 billion for the quarter. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.1%. Dover’s payout ratio is presently 12.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOV. Oppenheimer lowered their target price on shares of Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Wells Fargo & Company increased their price target on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada upped their target price on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Finally, Morgan Stanley increased their target price on Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average target price of $211.55.

About Dover

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.