Pittenger & Anderson Inc. Raises Holdings in Dover Corporation $DOV

Pittenger & Anderson Inc. raised its holdings in shares of Dover Corporation (NYSE:DOV) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,060 shares of the industrial products company’s stock after purchasing an additional 605 shares during the period. Pittenger & Anderson Inc.’s holdings in Dover were worth $6,791,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Parthenon LLC boosted its stake in Dover by 0.4% during the 2nd quarter. Parthenon LLC now owns 107,337 shares of the industrial products company’s stock valued at $19,667,000 after purchasing an additional 417 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dover during the 2nd quarter valued at $12,881,000. Chevy Chase Trust Holdings LLC boosted its stake in Dover by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 75,299 shares of the industrial products company’s stock valued at $13,797,000 after purchasing an additional 449 shares during the last quarter. Arista Wealth Management LLC purchased a new stake in Dover during the 2nd quarter valued at $336,000. Finally, Nordea Investment Management AB boosted its stake in shares of Dover by 9.3% in the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock worth $22,701,000 after buying an additional 10,581 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE DOV opened at $169.00 on Tuesday. 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 business’s fifty day moving average is $172.47 and its 200 day moving average is $175.53. The company has a market capitalization of $23.18 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.26. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 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%. Sell-side analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued 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 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Dover’s payout ratio is 12.55%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of research reports. Citigroup restated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Robert W. Baird raised their price target on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Barclays dropped 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. Oppenheimer dropped their price target on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.25.

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.