Dover Corp (DOV) Stake Lessened by AMP Capital Investors Ltd

AMP Capital Investors Ltd trimmed its position in Dover Corp (NYSE:DOV) by 17.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 85,075 shares of the industrial products company’s stock after selling 18,270 shares during the period. AMP Capital Investors Ltd’s holdings in Dover were worth $7,569,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DOV. Piedmont Investment Advisors LLC purchased a new stake in shares of Dover in the second quarter worth about $133,000. Dupont Capital Management Corp lifted its holdings in shares of Dover by 18.8% in the second quarter. Dupont Capital Management Corp now owns 13,755 shares of the industrial products company’s stock worth $1,007,000 after buying an additional 2,178 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Dover by 13.1% in the second quarter. Commonwealth Equity Services LLC now owns 13,883 shares of the industrial products company’s stock worth $1,016,000 after buying an additional 1,609 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Dover by 63.7% in the second quarter. First Trust Advisors LP now owns 530,078 shares of the industrial products company’s stock worth $38,802,000 after buying an additional 206,274 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Dover by 43.1% in the second quarter. Victory Capital Management Inc. now owns 50,571 shares of the industrial products company’s stock worth $3,702,000 after buying an additional 15,222 shares in the last quarter. 90.84% of the stock is currently owned by hedge funds and other institutional investors.

DOV has been the topic of a number of recent analyst reports. ValuEngine raised shares of Dover from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. UBS Group raised their target price on shares of Dover from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Citigroup raised shares of Dover from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Friday, September 7th. BMO Capital Markets downgraded shares of Dover from an “outperform” rating to a “market perform” rating and set a $90.00 target price on the stock. in a research note on Friday, September 7th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Dover in a research note on Tuesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Dover has an average rating of “Hold” and an average target price of $89.77.

In other Dover news, Director Mary A. Winston sold 2,000 shares of Dover stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $82.29, for a total transaction of $164,580.00. Following the transaction, the director now directly owns 13,055 shares of the company’s stock, valued at $1,074,295.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.50% of the company’s stock.

Shares of DOV opened at $79.50 on Friday. The company has a market capitalization of $12.22 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.44 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. Dover Corp has a 1-year low of $70.12 and a 1-year high of $90.26.

Dover (NYSE:DOV) last announced its earnings results on Thursday, October 18th. The industrial products company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. Dover had a net margin of 9.69% and a return on equity of 21.22%. Dover’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. On average, analysts anticipate that Dover Corp will post 4.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, November 29th. Dover’s dividend payout ratio (DPR) is presently 47.64%.

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Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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