Dover Corporation $DOV Shares Sold by Eastern Bank

Eastern Bank lessened its stake in shares of Dover Corporation (NYSE:DOV) by 9.8% during the second quarter, HoldingsChannel reports. The firm owned 1,132 shares of the industrial products company’s stock after selling 123 shares during the period. Eastern Bank’s holdings in Dover were worth $207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. North Capital Inc. acquired a new position in shares of Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the 1st quarter worth approximately $31,000. Truvestments Capital LLC lifted its position in shares of 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 in the last quarter. Investment Research & Advisory Group Inc. acquired a new position in shares of Dover during the second quarter worth $33,000. Finally, Costello Asset Management INC acquired a new position in shares of Dover during the first quarter worth $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.4%

Shares of NYSE DOV opened at $161.64 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $22.17 billion, a P/E ratio of 9.75, a PEG ratio of 1.29 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 stock’s 50 day moving average price is $173.71 and its two-hundred day moving average price is $175.77.

Dover (NYSE:DOV) last posted its quarterly 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 for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%. On average, analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on DOV. Citigroup reiterated a “buy” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Barclays cut their price target on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Royal Bank Of Canada boosted their price target on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Robert W. Baird upped their target price on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $212.42.

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.