Dover Co. (NYSE:DOV) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in Dover Co. (NYSE:DOV) by 16.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 32,851 shares of the industrial products company’s stock after selling 6,375 shares during the quarter. Van ECK Associates Corp’s holdings in Dover were worth $5,821,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Dover by 2.1% in the third quarter. AQR Capital Management LLC now owns 148,098 shares of the industrial products company’s stock worth $20,661,000 after buying an additional 2,998 shares during the last quarter. Lido Advisors LLC increased its holdings in Dover by 2.7% in the third quarter. Lido Advisors LLC now owns 3,828 shares of the industrial products company’s stock valued at $534,000 after buying an additional 101 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Dover by 12.8% in the third quarter. Schroder Investment Management Group now owns 100,522 shares of the industrial products company’s stock valued at $14,024,000 after purchasing an additional 11,395 shares during the period. Crestwood Advisors Group LLC acquired a new stake in shares of Dover in the third quarter valued at about $724,000. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Dover by 4.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 44,434 shares of the industrial products company’s stock valued at $6,199,000 after purchasing an additional 2,038 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOV has been the topic of several research analyst reports. Oppenheimer lifted their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Robert W. Baird boosted their price target on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Dover Price Performance

DOV traded down $0.96 on Friday, reaching $176.01. 416,005 shares of the company’s stock were exchanged, compared to its average volume of 997,474. 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 stock has a market cap of $24.19 billion, a PE ratio of 16.93, a P/E/G ratio of 2.15 and a beta of 1.22. The stock’s fifty day moving average price is $181.37 and its 200-day moving average price is $169.10. Dover Co. has a twelve month low of $127.25 and a twelve month high of $188.64.

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

Dover Announces Dividend

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 1.16%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is 19.60%.

Dover Company Profile

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.