Burney Co. Reduces Holdings in Dover Corporation $DOV

Burney Co. trimmed its stake in Dover Corporation (NYSE:DOV) by 3.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 20,247 shares of the industrial products company’s stock after selling 670 shares during the quarter. Burney Co.’s holdings in Dover were worth $3,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DOV. Brighton Jones LLC lifted its position in shares of Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,128 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Dover by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock worth $2,227,000 after purchasing an additional 1,160 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Dover by 29.9% in the 1st quarter. DAVENPORT & Co LLC now owns 5,095 shares of the industrial products company’s stock worth $895,000 after purchasing an additional 1,173 shares during the period. Mutual Advisors LLC lifted its position in shares of Dover by 2.6% in the 1st quarter. Mutual Advisors LLC now owns 4,068 shares of the industrial products company’s stock worth $687,000 after purchasing an additional 105 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its position in Dover by 29.8% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,793 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 412 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup reissued a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays lifted their price target on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Morgan Stanley lifted their price target on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings cut shares of Dover from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average target price of $211.55.

Dover Stock Down 1.8%

Shares of Dover stock opened at $178.16 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The stock has a market capitalization of $24.44 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a 50-day simple moving average of $172.17 and a two-hundred day simple moving average of $176.92.

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

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

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.