AEGON ASSET MANAGEMENT UK Plc Sells 39,323 Shares of Dover Co. (NYSE:DOV)

AEGON ASSET MANAGEMENT UK Plc cut its stake in Dover Co. (NYSE:DOV) by 33.8% in the first quarter, HoldingsChannel reports. The fund owned 76,926 shares of the industrial products company’s stock after selling 39,323 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Dover were worth $13,520,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Dover in the 4th quarter valued at approximately $28,000. R Squared Ltd bought a new position in Dover in the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC increased its position in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Dover in the 4th quarter valued at approximately $43,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 1.0%

Shares of DOV opened at $175.95 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a market cap of $24.12 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.06 and a beta of 1.28. The company’s fifty day simple moving average is $171.37 and its 200-day simple moving average is $186.64.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $1.95 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. Dover’s payout ratio is 12.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DOV shares. Barclays raised their price objective on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Robert W. Baird reduced their target price on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Mizuho set a $215.00 target price on shares of Dover in a research report on Friday, May 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Finally, Citigroup decreased their price objective on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.75.

About Dover

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.