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

Key Points

• AEGON ASSET MANAGEMENT UK Plc has reduced its stake in Dover Corporation by 12.3%, selling 9,477 shares and now holding 67,449 shares valued at $12,352,000.
• Dover Corporation recently declared a quarterly dividend of $0.52, increasing its annualized dividend to $2.08 with a yield of 1.3%.
• Analysts have a consensus rating of "Moderate Buy" for Dover's stock, with a target price averaging $212.42, reflecting optimism about the company's prospects.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 12.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor 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 SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. increased its holdings in Dover by 1.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company's stock worth $726,000 after purchasing an additional 57 shares in the last quarter. Summit Financial LLC increased its holdings in Dover by 0.9% during the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company's stock worth $1,159,000 after purchasing an additional 60 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Dover by 0.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,672 shares of the industrial products company's stock worth $3,971,000 after purchasing an additional 67 shares in the last quarter. Rockland Trust Co. grew its holdings in shares of Dover by 0.4% in the second quarter. Rockland Trust Co. now owns 15,383 shares of the industrial products company's stock valued at $2,819,000 after acquiring an additional 68 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its holdings in shares of Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 80 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of NYSE DOV opened at $162.58 on Wednesday. The stock has a fifty day simple moving average of $173.13 and a two-hundred day simple moving average of $175.59. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market cap of $22.29 billion, a price-to-earnings 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 - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.78 billion during the quarter. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on DOV shares. Barclays reduced their target price on Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada upped their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Wells Fargo & Company reduced their target price on Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, October 6th. Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their target price on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and a consensus price target of $212.42.

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.

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