Dover Corporation $DOV Shares Sold by US Bancorp DE

US Bancorp DE reduced its position in Dover Corporation (NYSE:DOV) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,919 shares of the industrial products company’s stock after selling 1,395 shares during the quarter. US Bancorp DE owned about 0.08% of Dover worth $19,591,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in Dover in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover in the 1st quarter valued at $31,000. Investment Research & Advisory Group Inc. acquired a new position in Dover in the 2nd quarter valued at $33,000. Truvestments Capital LLC grew its holdings in Dover by 1,005.9% in the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after buying an additional 171 shares in the last quarter. Finally, Costello Asset Management INC acquired a new stake in shares of Dover in the 1st quarter worth $35,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on DOV shares. Wells Fargo & Company cut their target price on Dover from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. Barclays cut their target price on Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Robert W. Baird raised their target price on 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. raised their target price on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Finally, Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.42.

Dover Stock Performance

NYSE DOV opened at $161.64 on Friday. The stock has a market cap of $22.17 billion, a PE ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The stock has a fifty day simple moving average of $173.71 and a 200-day simple moving average of $175.84.

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

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.52 per share. This is a positive change from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Dover’s dividend payout ratio (DPR) is 12.55%.

Dover Company 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.