Burney Co. Has $3.71 Million Stock Position in Dover Corporation $DOV

Burney Co. lessened its holdings in shares of Dover Corporation (NYSE:DOV) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,247 shares of the industrial products company’s stock after selling 670 shares during the period. Burney Co.’s holdings in Dover were worth $3,710,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock valued at $2,227,000 after purchasing an additional 1,160 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Dover by 9.3% in the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock worth $22,701,000 after acquiring an additional 10,581 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Dover by 77.9% in the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after acquiring an additional 268,931 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Dover in the 1st quarter worth about $313,000. Finally, Acadian Asset Management LLC grew its position in Dover by 1,034.4% in the 1st quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock worth $6,012,000 after purchasing an additional 31,219 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DOV. Wells Fargo & Company boosted their target price on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Royal Bank Of Canada upped their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th. Citigroup reiterated a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday, July 14th. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday, October 24th. Finally, Barclays raised their price objective on shares of Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Price Performance

Shares of Dover stock opened at $178.16 on Tuesday. The firm has a market cap of $24.44 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $172.17 and its two-hundred day simple moving average is $176.92.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The business had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, equities analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. Dover’s payout ratio is 12.79%.

Dover 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.