Dover Corporation $DOV Shares Sold by Amundi

Amundi reduced its stake in shares of Dover Corporation (NYSE:DOV) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 624,864 shares of the industrial products company’s stock after selling 125,622 shares during the quarter. Amundi owned 0.46% of Dover worth $117,568,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Dover by 1.4% during the 2nd 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. Geode Capital Management LLC lifted its holdings in shares of Dover by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after acquiring an additional 33,539 shares during the last quarter. Nuveen LLC acquired a new position in shares of Dover in the first quarter valued at approximately $526,081,000. First Trust Advisors LP increased its position in shares of Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Dover by 21.7% in the 2nd quarter. Invesco Ltd. now owns 1,549,453 shares of the industrial products company’s stock valued at $283,906,000 after buying an additional 276,763 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on DOV shares. JPMorgan Chase & Co. lifted their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Robert W. Baird set a $235.00 price objective on shares of Dover in a research note on Friday, October 24th. Barclays lifted their target price on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Finally, BNP Paribas initiated coverage on shares of Dover in a research report on Thursday. They issued a “neutral” rating and a $195.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $210.83.

Dover Stock Performance

DOV opened at $190.93 on Monday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The stock has a market cap of $26.19 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.48 and a beta of 1.31. The stock’s 50 day simple moving average is $176.45 and its 200 day simple moving average is $178.49. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The business 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%. As a group, equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.52 per share. 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 payout ratio is 12.79%.

Insider Buying and Selling

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the sale, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by corporate insiders.

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.