Foster & Motley Inc. Decreases Stake in Dover Corporation $DOV

Foster & Motley Inc. reduced its holdings in Dover Corporation (NYSE:DOV) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,940 shares of the industrial products company’s stock after selling 173 shares during the period. Foster & Motley Inc.’s holdings in Dover were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. North Capital Inc. purchased a new position in Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new position in Dover during the first quarter worth about $31,000. Harbour Investments Inc. raised its stake in Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Truvestments Capital LLC raised 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 purchasing an additional 171 shares during the period. Finally, Investment Research & Advisory Group Inc. purchased a new position in Dover during the second quarter worth about $33,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of DOV opened at $166.44 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The stock has a market cap of $22.82 billion, a PE ratio of 10.04, a P/E/G ratio of 1.33 and a beta of 1.26. The firm has a 50-day simple moving average of $172.60 and a two-hundred day simple moving average of $175.43. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The firm had revenue of $1.78 billion during the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. As a group, analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is presently 12.55%.

Analysts Set New Price Targets

A number of equities analysts have commented on DOV shares. Robert W. Baird lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Barclays reduced their target price 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $212.67.

About Dover

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.