Heartland Bank & Trust Co Lowers Stock Holdings in Dover Corporation $DOV

by · The Markets Daily

Heartland Bank & Trust Co reduced its position in Dover Corporation (NYSE:DOV – Free Report) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,127 shares of the industrial products company’s stock after selling 78 shares during the period. Heartland Bank & Trust Co’s holdings in Dover were worth $756,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DOV. Nuveen LLC bought a new stake in Dover in the 1st quarter worth approximately $526,081,000. Hsbc Holdings PLC grew its position in Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after purchasing an additional 268,931 shares during the period. Strs Ohio bought a new stake in shares of Dover during the 1st quarter valued at $40,148,000. Auto Owners Insurance Co grew its position in shares of Dover by 4,768.6% during the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company’s stock valued at $33,358,000 after acquiring an additional 185,977 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Dover by 595.2% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 183,436 shares of the industrial products company’s stock valued at $33,611,000 after acquiring an additional 157,050 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Citigroup reissued a “buy” rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a report on Wednesday, October 8th. Robert W. Baird upped their target price on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada upped their target price on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.42.

Read Our Latest Stock Analysis on DOV

Dover Stock Down 0.0%

Shares of NYSE DOV opened at $161.42 on Tuesday. The firm’s 50-day moving average price is $173.42 and its 200-day moving average price is $175.68. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 1.29 and a beta of 1.26. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV – Get Free Report) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. On average, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 12.55%.

Dover Company Profile

(Free Report)

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.

Read More