Dover Corporation $DOV Stock Holdings Lessened by Stack Financial Management Inc

Stack Financial Management Inc trimmed its stake in Dover Corporation (NYSE:DOV) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,274 shares of the industrial products company’s stock after selling 1,685 shares during the quarter. Stack Financial Management Inc owned 0.06% of Dover worth $14,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Dover by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock worth $2,870,986,000 after purchasing an additional 106,679 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Dover in the first quarter worth approximately $526,081,000. Invesco Ltd. lifted its position in shares of Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock worth $223,586,000 after purchasing an additional 93,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Dover by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock worth $172,759,000 after purchasing an additional 19,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock worth $147,680,000 after purchasing an additional 12,518 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on DOV shares. JPMorgan Chase & Co. raised their price objective on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Barclays cut their price objective on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Royal Bank Of Canada raised their price objective on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Robert W. Baird raised their price objective on shares of Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.42.

Dover Trading Down 0.4%

NYSE:DOV opened at $161.64 on Monday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The firm has a market cap of $22.17 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $173.71 and its 200-day moving average is $175.77.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $1.78 billion for the quarter. Equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently announced 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 represents a $2.08 dividend on an annualized basis and a yield of 1.3%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover’s payout ratio is presently 12.55%.

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.