Fulton Bank N.A. Lowers Position in Dover Co. (NYSE:DOV)

Fulton Bank N.A. decreased its holdings in shares of Dover Co. (NYSE:DOVGet Rating) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,103 shares of the industrial products company’s stock after selling 125 shares during the quarter. Fulton Bank N.A.’s holdings in Dover were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Dover by 76.9% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,486 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 1,950 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Dover during the 1st quarter worth $72,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Dover by 46.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,329 shares of the industrial products company’s stock worth $2,561,000 after acquiring an additional 5,193 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Dover by 5.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 58,954 shares of the industrial products company’s stock worth $9,250,000 after acquiring an additional 3,291 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its holdings in shares of Dover by 13.8% during the 1st quarter. Wealthfront Advisers LLC now owns 21,584 shares of the industrial products company’s stock worth $3,387,000 after acquiring an additional 2,620 shares during the last quarter. 83.96% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

DOV stock opened at $120.91 on Friday. The firm’s 50-day moving average price is $129.72 and its two-hundred day moving average price is $135.82. Dover Co. has a 12-month low of $116.66 and a 12-month high of $184.04. The stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.03 and a beta of 1.39. The company has a current ratio of 1.41, a quick ratio of 0.87 and a debt-to-equity ratio of 0.67.

Dover (NYSE:DOVGet Rating) last released its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the company earned $2.06 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that Dover Co. will post 8.5 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.505 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.02 annualized dividend and a dividend yield of 1.67%. This is a boost from Dover’s previous quarterly dividend of $0.50. Dover’s payout ratio is currently 25.70%.

Analysts Set New Price Targets

DOV has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Dover from $135.00 to $132.00 in a report on Friday, July 22nd. The Goldman Sachs Group lowered their price target on shares of Dover from $176.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Barclays lowered their price target on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Wells Fargo & Company boosted their price target on shares of Dover to $135.00 in a research note on Friday, July 22nd. Finally, Mizuho lowered their price target on shares of Dover from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $161.17.

Dover Company Profile

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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