Asset Advisors Investment Management LLC trimmed its holdings in shares of Dover Co. (NYSE:DOV – Get Rating) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,745 shares of the industrial products company’s stock after selling 2,470 shares during the period. Dover accounts for about 1.9% of Asset Advisors Investment Management LLC’s holdings, making the stock its 18th largest holding. Asset Advisors Investment Management LLC’s holdings in Dover were worth $16,748,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in Dover by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the industrial products company’s stock worth $1,415,000 after buying an additional 100 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Dover by 11.9% in the 1st quarter. Empirical Finance LLC now owns 2,773 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 295 shares during the period. Empowered Funds LLC purchased a new position in Dover during the 1st quarter worth approximately $1,668,000. Inspire Investing LLC purchased a new stake in Dover in the first quarter valued at approximately $2,890,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Dover by 39.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,768 shares of the industrial products company’s stock valued at $16,281,000 after acquiring an additional 29,287 shares during the period. 84.14% of the stock is owned by institutional investors.
In other news, SVP David J. Malinas bought 350 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was purchased at an average price of $139.44 per share, with a total value of $48,804.00. Following the purchase, the senior vice president now owns 2,744 shares of the company’s stock, valued at approximately $382,623.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
Dover (NYSE:DOV – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 27.82% and a net margin of 13.81%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.81 EPS. On average, equities research analysts expect that Dover Co. will post 8.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, May 27th. Dover’s dividend payout ratio (DPR) is presently 26.04%.
A number of equities analysts have recently commented on DOV shares. Morgan Stanley cut their target price on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 31st. Royal Bank of Canada cut their target price on shares of Dover from $170.00 to $162.00 and set a “sector perform” rating on the stock in a report on Friday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Dover from $159.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 29th. Barclays lowered their price objective on shares of Dover from $155.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Dover from $176.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Dover presently has an average rating of “Hold” and a consensus price target of $169.67.
Dover Company Profile (Get Rating)
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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