Dover Co. (NYSE:DOV) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lowered its stake in Dover Co. (NYSE:DOV) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,405 shares of the industrial products company’s stock after selling 1,168 shares during the quarter. Farmers & Merchants Investments Inc. owned about 0.06% of Dover worth $15,531,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,128 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Dover by 2.0% during the fourth quarter. Empowered Funds LLC now owns 13,426 shares of the industrial products company’s stock worth $2,519,000 after purchasing an additional 268 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Dover by 29.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,206 shares of the industrial products company’s stock worth $1,164,000 after purchasing an additional 1,427 shares in the last quarter. Avestar Capital LLC lifted its position in shares of Dover by 4.5% during the fourth quarter. Avestar Capital LLC now owns 2,973 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 127 shares in the last quarter. Finally, Life Planning Partners Inc purchased a new stake in shares of Dover during the fourth quarter worth approximately $7,919,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOV shares. Royal Bank of Canada restated a “sector perform” rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Morgan Stanley assumed coverage on Dover in a report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price target for the company. Robert W. Baird decreased their price target on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Citigroup reduced their target price on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.58.

Dover Stock Down 1.4%

DOV opened at $176.27 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The business has a 50-day moving average of $173.47 and a two-hundred day moving average of $185.39. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is currently 12.41%.

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.