Vontobel Holding Ltd. Acquires 3,740 Shares of Dover Corporation $DOV

Vontobel Holding Ltd. grew its holdings in shares of Dover Corporation (NYSE:DOV) by 36.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,917 shares of the industrial products company’s stock after acquiring an additional 3,740 shares during the quarter. Vontobel Holding Ltd.’s holdings in Dover were worth $2,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DOV. Castle Rock Wealth Management LLC bought a new position in shares of Dover in the 2nd quarter worth $1,966,000. Matisse Capital purchased a new position in Dover in the second quarter worth $424,000. Shell Asset Management Co. grew its position in Dover by 116.9% in the second quarter. Shell Asset Management Co. now owns 7,397 shares of the industrial products company’s stock worth $1,355,000 after acquiring an additional 3,987 shares in the last quarter. Cullinan Associates Inc. purchased a new position in Dover in the second quarter worth $861,000. Finally, Valeo Financial Advisors LLC lifted its stake in Dover by 8.6% during the second quarter. Valeo Financial Advisors LLC now owns 1,550 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 123 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 0.4%

NYSE DOV opened at $161.64 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The stock has a market cap of $22.17 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. The stock has a 50 day simple moving average of $173.71 and a two-hundred day simple moving average of $175.80. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

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

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is 12.55%.

Analyst Ratings Changes

Several equities research analysts have issued reports on DOV shares. Barclays dropped their price target 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. JPMorgan Chase & Co. increased their price target on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Wells Fargo & Company reduced their price target on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research note on Wednesday. Finally, Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $212.42.

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.