AEGON ASSET MANAGEMENT UK Plc Sells 9,477 Shares of Dover Corporation $DOV

AEGON ASSET MANAGEMENT UK Plc reduced its stake in Dover Corporation (NYSE:DOV) by 12.3% in the second quarter, Holdings Channel.com reports. The fund owned 67,449 shares of the industrial products company’s stock after selling 9,477 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Dover were worth $12,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in DOV. Vanguard Group Inc. raised its position in shares of Dover by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock worth $2,870,986,000 after buying an additional 106,679 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Dover in the first quarter worth $526,081,000. Invesco Ltd. raised its position in shares of Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock worth $223,586,000 after buying an additional 93,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Dover by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock worth $172,759,000 after buying an additional 19,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock worth $147,680,000 after buying an additional 12,518 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOV has been the topic of a number of recent analyst reports. Citigroup reiterated a “buy” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price objective on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Barclays lowered their price target on Dover from $193.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Robert W. Baird raised their price target on Dover from $219.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada raised their price target on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $212.42.

Dover Stock Up 0.9%

Shares of NYSE:DOV opened at $162.58 on Wednesday. The stock’s 50-day moving average price is $173.13 and its 200-day moving average price is $175.59. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The stock has a market capitalization of $22.29 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) 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. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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