Leeward Investments LLC MA raised its position in Dover Co. (NYSE:DOV – Get Rating) by 17.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 135,041 shares of the industrial products company's stock after purchasing an additional 20,233 shares during the period. Leeward Investments LLC MA owned 0.09% of Dover worth $16,383,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Dover by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company's stock valued at $2,650,899,000 after purchasing an additional 224,091 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Dover by 6.5% in the 1st quarter. JPMorgan Chase & Co. now owns 12,039,850 shares of the industrial products company's stock valued at $1,889,052,000 after purchasing an additional 731,961 shares in the last quarter. BlackRock Inc. lifted its holdings in Dover by 0.5% in the 1st quarter. BlackRock Inc. now owns 10,761,653 shares of the industrial products company's stock valued at $1,688,503,000 after purchasing an additional 48,340 shares in the last quarter. Boston Partners raised its holdings in shares of Dover by 1.1% during the 1st quarter. Boston Partners now owns 4,304,635 shares of the industrial products company's stock worth $675,288,000 after acquiring an additional 45,804 shares during the period. Finally, Norges Bank purchased a new position in shares of Dover during the 4th quarter worth $249,199,000. Hedge funds and other institutional investors own 83.96% of the company's stock.
Get Dover alerts:Analyst Ratings Changes
Several research analysts have recently commented on DOV shares. Wells Fargo & Company lifted their price target on Dover to $135.00 in a report on Friday, July 22nd. Morgan Stanley reduced their price target on Dover from $161.00 to $149.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 31st. The Goldman Sachs Group reduced their price target on Dover from $176.00 to $146.00 and set a "buy" rating on the stock in a report on Thursday, June 23rd. StockNews.com raised Dover from a "hold" rating to a "buy" rating in a research report on Thursday, July 21st. Finally, Barclays cut their price objective on Dover from $140.00 to $128.00 and set an "equal weight" rating for the company in a research report on Friday, July 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Dover presently has a consensus rating of "Hold" and an average price target of $161.17.
Dover Trading Down 1.5 %
NYSE DOV traded down $1.80 during trading on Monday, hitting $117.95. The stock had a trading volume of 1,368,593 shares, compared to its average volume of 940,544. The company has a market capitalization of $16.93 billion, a PE ratio of 15.07, a PEG ratio of 1.01 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.41 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $129.91 and a 200 day moving average price of $134.70. Dover Co. has a twelve month low of $116.66 and a twelve month high of $184.04.Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.06. Dover had a return on equity of 26.94% and a net margin of 13.90%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the company posted $2.06 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Dover Co. will post 8.5 earnings per share for the current year.
Dover Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.505 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $2.02 dividend on an annualized basis and a yield of 1.71%. This is a boost from Dover's previous quarterly dividend of $0.50. Dover's payout ratio is currently 25.70%.
About Dover
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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.
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