Russell Investments Group Ltd. Sells 28,174 Shares of Dover Corporation $DOV

Russell Investments Group Ltd. cut its stake in Dover Corporation (NYSE:DOV) by 24.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 88,883 shares of the industrial products company’s stock after selling 28,174 shares during the quarter. Russell Investments Group Ltd.’s holdings in Dover were worth $16,286,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. AdvisorShares Investments LLC acquired a new position in Dover during the second quarter worth $30,000. Harbour Investments Inc. raised its stake in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new position in shares of Dover in the 2nd quarter worth approximately $33,000. Truvestments Capital LLC grew its position in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 171 shares during the last quarter. Finally, Costello Asset Management INC bought a new stake in Dover during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.5%

DOV opened at $185.28 on Monday. The firm has a 50 day simple moving average of $174.36 and a 200 day simple moving average of $178.32. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. Dover’s payout ratio is 12.79%.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Morgan Stanley lifted their price target on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Oppenheimer increased their price objective on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dover in a research report on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.27.

Dover 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.