Ashfield Capital Partners LLC Sells 784 Shares of Dover Corp (DOV)

Ashfield Capital Partners LLC decreased its position in shares of Dover Corp (NYSE:DOV) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,531 shares of the industrial products company’s stock after selling 784 shares during the quarter. Ashfield Capital Partners LLC’s holdings in Dover were worth $2,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOV. Boston Partners grew its position in shares of Dover by 110.3% during the 2nd quarter. Boston Partners now owns 5,131,152 shares of the industrial products company’s stock worth $375,601,000 after buying an additional 2,691,480 shares in the last quarter. Bank of America Corp DE grew its position in shares of Dover by 15.9% during the 2nd quarter. Bank of America Corp DE now owns 5,304,419 shares of the industrial products company’s stock worth $388,283,000 after buying an additional 726,930 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Dover by 7,946.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 319,697 shares of the industrial products company’s stock worth $4,384,000 after buying an additional 315,724 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Dover by 80.2% during the 2nd quarter. Schroder Investment Management Group now owns 699,811 shares of the industrial products company’s stock worth $50,925,000 after buying an additional 311,500 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Dover by 15.2% during the 2nd quarter. Northern Trust Corp now owns 2,323,795 shares of the industrial products company’s stock worth $170,101,000 after buying an additional 306,116 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of DOV stock opened at $84.57 on Monday. Dover Corp has a 1-year low of $70.12 and a 1-year high of $90.26. The stock has a market cap of $12.38 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.45 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 1.30.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 18th. The industrial products company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. Dover had a return on equity of 21.22% and a net margin of 9.69%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business posted $1.14 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Dover Corp will post 4.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.27%. Dover’s dividend payout ratio (DPR) is presently 47.64%.

In other Dover news, Director Mary A. Winston sold 2,000 shares of the stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $82.29, for a total value of $164,580.00. Following the completion of the sale, the director now directly owns 13,055 shares in the company, valued at $1,074,295.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.50% of the company’s stock.

A number of brokerages recently weighed in on DOV. Citigroup raised Dover from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Friday, September 7th. Bank of America raised their price objective on Dover from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Thursday, October 11th. Gordon Haskett began coverage on Dover in a research report on Friday, October 12th. They set a “buy” rating on the stock. Finally, ValuEngine raised Dover from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $89.77.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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