Allred Capital Management LLC trimmed its holdings in Dover Co. (NYSE:DOV – Get Rating) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,568 shares of the industrial products company’s stock after selling 371 shares during the period. Allred Capital Management LLC’s holdings in Dover were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in DOV. Yousif Capital Management LLC bought a new position in shares of Dover during the fourth quarter valued at about $8,733,000. Jones Financial Companies Lllp increased its stake in shares of Dover by 41.1% in the first quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Dover by 3.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 23,840 shares of the industrial products company’s stock worth $4,329,000 after purchasing an additional 760 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Dover by 8.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,295 shares of the industrial products company’s stock worth $417,000 after purchasing an additional 184 shares in the last quarter. Finally, Dupont Capital Management Corp increased its stake in shares of Dover by 48.4% in the first quarter. Dupont Capital Management Corp now owns 11,412 shares of the industrial products company’s stock worth $1,791,000 after purchasing an additional 3,720 shares in the last quarter. 84.14% of the stock is owned by institutional investors.
Dover Trading Up 1.2 %
Shares of DOV traded up $1.61 during mid-day trading on Thursday, reaching $131.71. The company’s stock had a trading volume of 10,416 shares, compared to its average volume of 913,869. The stock has a market cap of $18.91 billion, a PE ratio of 16.76, a P/E/G ratio of 1.07 and a beta of 1.40. 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 Co. has a 52 week low of $116.66 and a 52 week high of $184.04. The company’s fifty day moving average price is $125.86 and its two-hundred day moving average price is $145.08.
Dover Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. Dover’s dividend payout ratio is currently 25.45%.
Analysts Set New Price Targets
Several equities analysts recently commented on DOV shares. Mizuho reduced their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Dover from $135.00 to $132.00 in a research note on Friday, July 22nd. Robert W. Baird reduced their price objective on shares of Dover from $194.00 to $169.00 in a research note on Thursday, April 21st. Wells Fargo & Company boosted their price objective on shares of Dover to $135.00 in a research note on Friday, July 22nd. Finally, Royal Bank of Canada dropped their target price on shares of Dover from $170.00 to $162.00 and set a “sector perform” rating for the company in a research report on Friday, April 22nd. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $161.17.
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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