Dover Co. (NYSE:DOV) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lowered its stake in Dover Co. (NYSE:DOV) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,595 shares of the industrial products company’s stock after selling 1,489 shares during the period. 1832 Asset Management L.P.’s holdings in Dover were worth $4,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. BSW Wealth Partners increased its stake in Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 59 shares during the last quarter. Summit Trail Advisors LLC increased its stake in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 60 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 62 shares during the last quarter. Legacy Financial Advisors Inc. increased its stake in Dover by 1.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DOV. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Oppenheimer boosted their price target on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Mizuho boosted their price target on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Stock Performance

Dover stock traded down $1.09 during trading hours on Friday, hitting $185.23. The stock had a trading volume of 1,412,003 shares, compared to its average volume of 1,039,623. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The company has a market cap of $25.46 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.22. The company has a 50-day moving average of $181.49 and a two-hundred day moving average of $172.68. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 25.36% and a net margin of 17.58%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. On average, equities research analysts anticipate that Dover Co. will post 9.11 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s payout ratio is presently 19.60%.

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.