Stephens Inc. AR reduced its stake in shares of Dover Co. (NYSE: DOVGet a rating) by 8.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor held 4,075 shares of the industrial products company after selling 363 shares during the period. Holdings of Stephens Inc. AR in Dover were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also changed their DOV holdings. Allspring Global Investments Holdings LLC bought a new position in Dover stock during Q4 for a value of approximately $4,798,000. Commonwealth Equity Services LLC increased its position in Dover shares by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 22,654 shares of the industrial products company worth $4,114,000 after purchasing an additional 1,186 shares during the period. Vestmark Advisory Solutions Inc. increased its position in Dover shares by 20.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,135 shares of the industrial products company worth $388,000 after purchasing an additional 362 shares during the period. Dupont Capital Management Corp increased its position in Dover shares by 4.0% during the 4th quarter. Dupont Capital Management Corp now owns 7,692 shares of the industrial products company worth $1,397,000 after buying 299 additional shares during the period. Finally, CWM LLC purchased a new position in Dover stock during Q4 for a value of approximately $85,000. Institutional investors hold 84.14% of the company’s shares.

Dover shares down 0.9%

Shares of Dover Action opened at $131.13 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.41 and a debt ratio of 0.67. Dover Co. has a 12-month low of $116.66 and a 12-month high of $184.04. The company has a fifty-day simple moving average of $126.00 and a 200-day simple moving average of $143.50. The stock has a market capitalization of $18.82 billion, a PE ratio of 16.68, a growth price-earnings ratio of 1.12 and a beta of 1.39.

Dover (NYSE: DOVGet a rating) last reported quarterly earnings data on Thursday, July 21. The industrial products company reported EPS of $2.14 for the quarter, beating analyst consensus estimates 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 in the quarter, versus $2.18 billion expected by analysts. In the same period a year earlier, the company earned earnings per share of $2.06. The company’s quarterly revenue increased by 6.3% compared to the same quarter last year. Research analysts predict that Dover Co. will post an EPS of 8.5 for the current year.

Dover announces dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Tuesday, May 31 received a dividend of $0.50 per share. The ex-dividend date was Friday, May 27. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 1.53%. Dover’s dividend payout ratio (DPR) is currently 25.45%.

Analysts set new price targets

Several stock analysts have published reports on the company. Royal Bank of Canada cut its price target at Dover from $170.00 to $162.00 and set an “industry performance” rating for the company in a Friday, April 22 research report. Morgan Stanley cut its price target on Dover from $161.00 to $149.00 and set an “equal weight” rating for the company in a Tuesday, May 31 research report. Goldman Sachs Group cut its price target on Dover from $176.00 to $146.00 and set a “buy” rating for the company in a Thursday, June 23 research report. Barclays cut its price target on Dover from $140.00 to $128.00 and set an “equal weight” rating for the company in a research report on Friday July 8. Finally, Mizuho reduced its price target on Dover from $175.00 to $155.00 and set a “buy” rating for the company in a Monday, July 18 research report. One analyst gave the stock a sell rating, five gave the company a hold rating and seven gave the company a buy rating. According to data from MarketBeat.com, Dover has a consensus rating of “Hold” and a consensus price target of $161.17.

Dover Company Profile

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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.

Further reading

Want to see which other hedge funds hold DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Co. (NYSE: DOVGet a rating).

Institutional ownership by quarter for Dover (NYSE:DOV)



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