Dover Co. (NYSE:DOV) Holdings Decreased by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in Dover Co. (NYSE:DOV) by 0.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 16,379,218 shares of the industrial products company’s stock after selling 118,079 shares during the quarter. Vanguard Group Inc. owned about 0.12% of Dover worth $2,902,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BSW Wealth Partners raised its holdings in Dover by 1.2% during the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after purchasing an additional 59 shares in the last quarter. Summit Trail Advisors LLC boosted 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 valued at $413,000 after buying an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted 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 valued at $215,000 after buying an additional 62 shares in the last quarter. Legacy Financial Advisors Inc. raised its position in Dover by 1.7% in 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 in the last quarter. Finally, CWM LLC lifted its holdings in Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Oppenheimer upped their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Mizuho raised their price objective on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Barclays boosted their target price on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Down 1.4 %

Dover stock traded down $2.64 during mid-day trading on Friday, hitting $183.70. The company’s stock had a trading volume of 856,620 shares, compared to its average volume of 929,912. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31. The company has a market cap of $25.25 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The firm’s 50 day moving average is $181.73 and its 200 day moving average is $171.49.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

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.