ACG Wealth acquired a new stake in Dover Co. (NYSE:DOV – Get Rating) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 843 shares of the industrial products company's stock, valued at approximately $102,000.

A number of other institutional investors have also modified their holdings of DOV. Norges Bank acquired a new stake in shares of Dover in the fourth quarter valued at $249,199,000. JPMorgan Chase & Co. grew its stake in shares of Dover by 6.5% in the first quarter. JPMorgan Chase & Co. now owns 12,039,850 shares of the industrial products company's stock valued at $1,889,052,000 after buying an additional 731,961 shares in the last quarter. Millennium Management LLC grew its stake in shares of Dover by 277.1% in the fourth quarter. Millennium Management LLC now owns 803,269 shares of the industrial products company's stock valued at $145,874,000 after buying an additional 590,242 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Dover in the first quarter valued at $83,771,000. Finally, Castleview Partners LLC purchased a new position in Dover in the fourth quarter valued at $2,881,000. 83.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Dover from $135.00 to $132.00 in a report on Friday, July 22nd. Morgan Stanley decreased their target price on Dover from $161.00 to $149.00 and set an "equal weight" rating for the company in a report on Tuesday, May 31st. Wells Fargo & Company lifted their target price on Dover to $135.00 in a report on Friday, July 22nd. Mizuho decreased their price target on Dover from $175.00 to $155.00 and set a "buy" rating for the company in a report on Monday, July 18th. Finally, Barclays decreased their price target on Dover from $140.00 to $128.00 and set an "equal weight" rating for the company in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Dover currently has a consensus rating of "Hold" and a consensus price target of $161.17.

Dover Stock Down 1.6 %

Dover (NYSE:DOV – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.06. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.18 billion. Dover had a return on equity of 26.94% and a net margin of 13.90%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.06 EPS. Equities research analysts expect that Dover Co. will post 8.5 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, August 30th. This is a boost from Dover's previous quarterly dividend of $0.50. Dover's payout ratio is 25.70%.

Dover Profile

(Get Rating)

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Featured Articles

• Get a free copy of the StockNews.com research report on Dover (DOV)
• The Institutions Hold On To Darden Restaurants International
• What Steelcase's Earnings Say About the Return to the Office?
• These 3 Big Dividend Payers Also Boast Strong Price Growth
• Is The Golden Age Of Homebuilding Already Over?
• Natural Gas Prices Continue To Rally, These Stocks Should Benefit

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Co. (NYSE:DOV – Get Rating).

Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.