Heartland Bank & Trust Co Sells 78 Shares of Dover Corporation $DOV

Heartland Bank & Trust Co reduced its stake in Dover Corporation (NYSE:DOV) by 1.9% during the second quarter, Holdings Channel.com reports. The fund owned 4,127 shares of the industrial products company’s stock after selling 78 shares during the quarter. Heartland Bank & Trust Co’s holdings in Dover were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. NorthRock Partners LLC bought a new position in Dover in the 2nd quarter worth about $386,000. Astoria Portfolio Advisors LLC. bought a new position in Dover in the 2nd quarter worth about $211,000. Sequoia Financial Advisors LLC grew its stake in Dover by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,094 shares of the industrial products company’s stock worth $567,000 after acquiring an additional 112 shares in the last quarter. Vest Financial LLC grew its stake in Dover by 38.0% in the 2nd quarter. Vest Financial LLC now owns 382,428 shares of the industrial products company’s stock worth $70,072,000 after acquiring an additional 105,366 shares in the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Dover by 6.3% during the second quarter. MGO One Seven LLC now owns 2,391 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 141 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a research note on Wednesday, October 8th. Royal Bank Of Canada increased 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. Citigroup reiterated a “buy” rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Wells Fargo & Company dropped their price objective on shares of Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Finally, Barclays decreased their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.42.

Dover Trading Down 0.0%

NYSE DOV opened at $161.42 on Tuesday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $173.42 and a two-hundred day simple moving average of $175.68. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The stock has a market cap of $22.14 billion, a P/E ratio of 9.74, a P/E/G ratio of 1.29 and a beta of 1.26.

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. Dover had a net margin of 29.29% and a return on equity of 18.19%. The firm had revenue of $1.78 billion during the quarter. On average, analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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

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.