American Research & Management Co. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,650 shares of the industrial products company’s stock after selling 4,075 shares during the period. Dover comprises 1.9% of American Research & Management Co.’s holdings, making the stock its 21st largest position. American Research & Management Co.’s holdings in Dover were worth $8,043,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of DOV. Norges Bank acquired a new position in shares of Dover during the 4th quarter worth about $116,469,000. First Trust Advisors LP lifted its stake in Dover by 532.1% in the 4th quarter. First Trust Advisors LP now owns 486,898 shares of the industrial products company’s stock valued at $61,471,000 after purchasing an additional 409,875 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Dover by 126.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 643,422 shares of the industrial products company’s stock valued at $81,230,000 after purchasing an additional 358,718 shares during the last quarter. Morgan Stanley lifted its stake in Dover by 36.4% in the 4th quarter. Morgan Stanley now owns 1,015,245 shares of the industrial products company’s stock valued at $128,175,000 after purchasing an additional 270,843 shares during the last quarter. Finally, PGGM Investments lifted its stake in Dover by 469.9% in the 4th quarter. PGGM Investments now owns 273,864 shares of the industrial products company’s stock valued at $34,575,000 after purchasing an additional 225,807 shares during the last quarter. Institutional investors own 82.70% of the company’s stock.
DOV has been the subject of several recent analyst reports. Oppenheimer reiterated a “hold” rating on shares of Dover in a research note on Wednesday, January 27th. Zacks Investment Research downgraded shares of Dover from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research report on Tuesday, December 22nd. Morgan Stanley raised their price objective on shares of Dover from $134.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, January 29th. Finally, Barclays raised their price objective on shares of Dover from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $128.22.
Shares of DOV traded down $0.89 during mid-day trading on Thursday, hitting $138.19. 2,444 shares of the company’s stock were exchanged, compared to its average volume of 759,378. Dover Co. has a 52 week low of $79.87 and a 52 week high of $141.12. The stock’s 50-day simple moving average is $131.76 and its 200-day simple moving average is $122.63. The firm has a market cap of $19.88 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.30. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 0.94.
Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.17. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Dover had a net margin of 10.02% and a return on equity of 26.73%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. Analysts forecast that Dover Co. will post 5.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Friday, March 5th were paid a $0.495 dividend. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $1.98 dividend on an annualized basis and a yield of 1.43%. Dover’s dividend payout ratio (DPR) is 33.39%.
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.
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