Stack Financial Management Inc Sells 1,685 Shares of Dover Corporation $DOV

by · The Markets Daily

Stack Financial Management Inc lowered its stake in shares of Dover Corporation (NYSE:DOV – Free Report) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,274 shares of the industrial products company’s stock after selling 1,685 shares during the quarter. Stack Financial Management Inc’s holdings in Dover were worth $14,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. bought a new position in Dover during the first quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover during the first quarter worth $31,000. Investment Research & Advisory Group Inc. acquired a new stake in Dover during the second quarter worth $33,000. Truvestments Capital LLC boosted its stake in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after buying an additional 171 shares in the last quarter. Finally, Costello Asset Management INC acquired a new stake in Dover during the first quarter worth $35,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Dover stock opened at $161.64 on Monday. The stock has a 50-day simple moving average of $173.71 and a 200 day simple moving average of $175.77. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The stock has a market capitalization of $22.17 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26.

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

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.3%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is presently 12.55%.

Analyst Ratings Changes

DOV has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their price target on shares of Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Wells Fargo & Company decreased their price target on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Barclays decreased their price target on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.42.

Get Our Latest Stock Report on DOV

About Dover

(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.

See Also

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