Dover Corporation $DOV Shares Sold by Estabrook Capital Management

Estabrook Capital Management cut its holdings in Dover Corporation (NYSE:DOV) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,565 shares of the industrial products company’s stock after selling 312 shares during the quarter. Estabrook Capital Management’s holdings in Dover were worth $3,585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nuveen LLC purchased a new stake in Dover during the 1st quarter valued at approximately $526,081,000. Norges Bank acquired a new position in shares of Dover in the second quarter valued at approximately $274,135,000. Hsbc Holdings PLC increased its holdings in shares of Dover by 46.8% in the second quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock valued at $165,158,000 after purchasing an additional 287,362 shares during the period. Vanguard Group Inc. raised its stake in shares of Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after purchasing an additional 231,146 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Dover during the first quarter worth $40,148,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of analyst reports. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada raised their price objective on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. Barclays boosted their target price on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Finally, Oppenheimer raised their price target on Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $212.27.

Dover Trading Down 0.5%

Shares of DOV opened at $185.28 on Friday. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $25.41 billion, a P/E ratio of 11.39, a PEG ratio of 1.40 and a beta of 1.29. The firm’s 50-day moving average is $174.36 and its two-hundred day moving average is $178.36.

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 company 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, research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.1%. Dover’s dividend payout ratio is 12.79%.

About Dover

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.