Dover Corporation $DOV Shares Sold by Eastern Bank

Eastern Bank lessened its stake in shares of Dover Corporation (NYSE:DOV) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,132 shares of the industrial products company’s stock after selling 123 shares during the quarter. Eastern Bank’s holdings in Dover were worth $207,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. North Capital Inc. acquired a new stake in Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dover during the first quarter valued at $31,000. Truvestments Capital LLC boosted its stake in shares of Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 171 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new stake in shares of Dover during the second quarter valued at $33,000. Finally, Costello Asset Management INC acquired a new stake in shares of Dover during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on DOV. Robert W. Baird raised their price target on shares of Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Wednesday, October 8th. Barclays decreased their price objective on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Finally, Citigroup restated a “buy” rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average target price of $212.42.

Dover Stock Down 0.4%

Shares of DOV opened at $161.64 on Monday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market cap of $22.17 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $173.71 and its two-hundred day moving average is $175.77.

Dover (NYSE:DOV) last issued its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm had revenue of $1.78 billion for the quarter. Analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is presently 12.55%.

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.