Shell Asset Management Co. increased its stake in Dover Co. (NYSE: DOV – Get a rating) by 5.8% in Q1, according to the company in its latest 13F filing with the Securities & Exchange Commission. The company held 5,092 shares of the industrial products company after buying an additional 280 shares during the quarter. Shell Asset Management Co.’s holdings in Dover were worth $799,000 when it was last filed with the Securities & Exchange Commission.
Several other large investors have also increased or reduced their stakes in DOV. Life Planning Partners Inc purchased a new equity stake in Dover during Q4, valued at approximately $41,000. FinTrust Capital Advisors LLC purchased a new equity stake in Dover during Q1 worth approximately $44,000. Jones Financial Companies Lllp increased its position in Dover shares by 41.1% during the 1st quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company valued at $54,000 after acquiring 101 additional shares in the last quarter. Covestor Ltd purchased a new equity stake in Dover during Q4, valued at approximately $64,000. Finally, Quent Capital LLC purchased a new equity stake in Dover during Q4 valued at approximately $67,000. Institutional investors hold 84.14% of the company’s shares.
Price performance in Dover
DVV opened at $133.68 on Monday. The company has a debt ratio of 0.67, a quick ratio of 0.87 and a current ratio of 1.41. Dover Co. has a 52-week low of $116.66 and a 52-week high of $184.04. The stock has a market capitalization of $19.19 billion, a PE ratio of 17.01, a growth price-earnings ratio of 1.07 and a beta of 1.40. The stock’s 50-day moving average price is $125.96 and its 200-day moving average price is $144.17.
Dover (NYSE: DOV – Get a rating) last reported results on Thursday, July 21. The industrial products company reported EPS of $2.14 for the quarter, beating the consensus estimate of $2.07 by $0.07. Dover had a return on equity of 26.94% and a net margin of 13.90%. The company posted revenue of $2.16 billion for the quarter, versus a consensus estimate of $2.18 billion. During the same period a year earlier, the company posted earnings per share of $2.06. The company’s revenue for the quarter increased by 6.3% compared to the same quarter last year. On average, equity research analysts expect Dover Co. to post an EPS of 8.5 for the current year.
Dover Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Tuesday, May 31 received a dividend of $0.50. This represents an annualized dividend of $2.00 and a yield of 1.50%. The ex-dividend date was Friday, May 27. Dover’s dividend payout ratio (DPR) is 25.45%.
Analyst upgrades and downgrades
A number of brokerages have weighed in on DOV recently. Morgan Stanley lowered its price target on Dover from $161.00 to $149.00 and set an “equal weight” rating on the stock in a Tuesday, May 31 report. Deutsche Bank Aktiengesellschaft lowered its price target on Dover from $135.00 to $132.00 in a Friday, July 22 report. Barclays cut its price target on Dover from $140.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday July 8. Goldman Sachs Group lowered its price target on Dover from $176.00 to $146.00 and set a “buy” rating on the stock in a Thursday, June 23 report. Finally, Robert W. Baird cut his price target on Dover from $194.00 to $169.00 in a Thursday, April 21 report. One financial analyst has assigned the stock a sell rating, five have assigned a hold rating and seven have assigned the stock a buy rating. According to MarketBeat, Dover currently has an average rating of “Hold” and a consensus price target of $161.17.
Profile of Dover
Dover Corporation provides equipment and components, consumables, spare parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, components, software, solutions and services that are used in vehicle aftermarket, solid waste management, industrial automation, aerospace and defense, winches and industrial hoists and the fluid distribution end market.
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