O Shaughnessy Asset Management LLC lifted its holdings in shares of Dover Co. (NYSE:DOV) by 26.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,691 shares of the industrial products company’s stock after buying an additional 1,182 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Dover were worth $857,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in DOV. FMR LLC boosted its position in Dover by 32.3% during the 1st quarter. FMR LLC now owns 167,288 shares of the industrial products company’s stock valued at $15,692,000 after purchasing an additional 40,841 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in Dover during the 1st quarter valued at approximately $35,000. Commonwealth Equity Services LLC boosted its position in Dover by 1.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 18,315 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 300 shares during the period. Envestnet Asset Management Inc. grew its holdings in Dover by 1.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 184,067 shares of the industrial products company’s stock worth $25,241,000 after buying an additional 2,184 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of Dover by 20.7% in the first quarter. IFM Investors Pty Ltd now owns 16,474 shares of the industrial products company’s stock worth $2,259,000 after purchasing an additional 2,830 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.
DOV has been the topic of several research analyst reports. Citigroup raised their target price on shares of Dover from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, July 21st. Zacks Investment Research downgraded Dover from a “buy” rating to a “hold” rating and set a $155.00 price objective for the company. in a research report on Tuesday, June 22nd. Royal Bank of Canada increased their price objective on Dover from $153.00 to $165.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 21st. Morgan Stanley increased their price objective on Dover from $164.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Dover from $167.00 to $177.00 and gave the stock a “hold” rating in a report on Wednesday, July 21st. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $164.00.
Dover (NYSE:DOV) last released its earnings results on Monday, July 19th. The industrial products company reported $2.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.22. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Dover had a net margin of 11.84% and a return on equity of 29.42%. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. As a group, equities analysts predict that Dover Co. will post 7.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Monday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.50. Dover’s dividend payout ratio (DPR) is presently 35.27%.
Dover Corp. engages in the manufacture of equipment, components, and specialty systems. The firm also provides supporting engineering, testing, and other similar services. It operates through the following segments: Engineered Products, Fueling Solutions, Imaging and Identification, Pumps and Process Solutions, and Refrigeration and Food Equipment.
Recommended Story: After-Hours Trading
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.