Dover Corporation $DOV Stock Holdings Lowered by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its holdings in shares of Dover Corporation (NYSE:DOV) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,377 shares of the industrial products company’s stock after selling 2,456 shares during the period. Park Avenue Securities LLC’s holdings in Dover were worth $1,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOV. BlackRock Inc. bought a new position in shares of Dover during the second quarter valued at approximately $2,347,134,000. Bank of New York Mellon Corp lifted its holdings in shares of Dover by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 3,030,972 shares of the industrial products company’s stock valued at $631,806,000 after purchasing an additional 150,319 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Dover in the 2nd quarter worth approximately $625,375,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Dover by 2.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 969,469 shares of the industrial products company’s stock worth $217,433,000 after purchasing an additional 20,590 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Dover in the 2nd quarter worth approximately $211,269,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of DOV opened at $207.66 on Monday. Dover Corporation has a twelve month low of $176.40 and a twelve month high of $237.54. The company has a market capitalization of $27.62 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. The firm has a 50 day moving average of $193.97 and a 200 day moving average of $209.58. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.34.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the firm posted $2.62 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts anticipate that Dover Corporation will post 10.72 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.5250 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, August 31st. Dover’s dividend payout ratio (DPR) is presently 24.48%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOV. Wolfe Research reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Dover in a research report on Thursday, July 9th. Mizuho dropped their target price on Dover from $270.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Wells Fargo & Company lifted their price target on Dover from $229.00 to $233.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $238.60.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.