Dover Corporation (NYSE:DOV) Shares Bought by Auto Owners Insurance Co

Auto Owners Insurance Co grew its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 4,768.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,877 shares of the industrial products company's stock after acquiring an additional 185,977 shares during the quarter. Auto Owners Insurance Co owned about 0.14% of Dover worth $33,358,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DOV. Brighton Jones LLC increased its holdings 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 valued at $552,000 after acquiring an additional 1,128 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Dover by 128.3% during the fourth quarter. TD Private Client Wealth LLC now owns 1,016 shares of the industrial products company's stock valued at $191,000 after acquiring an additional 571 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Dover by 45.9% during the fourth quarter. Mizuho Securities USA LLC now owns 13,003 shares of the industrial products company's stock valued at $2,439,000 after acquiring an additional 4,090 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Dover by 19.2% during the fourth quarter. Sei Investments Co. now owns 85,778 shares of the industrial products company's stock valued at $16,092,000 after acquiring an additional 13,840 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Dover by 3.3% during the fourth quarter. LPL Financial LLC now owns 144,679 shares of the industrial products company's stock valued at $27,142,000 after acquiring an additional 4,683 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several research reports. Citigroup reiterated a "buy" rating and issued a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Morgan Stanley initiated coverage on shares of Dover in a report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday. Mizuho increased their price target on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada raised their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $213.42.

Dover Trading Down 0.0%

DOV traded down $0.09 on Friday, hitting $186.55. The company had a trading volume of 1,579,882 shares, compared to its average volume of 1,078,183. The firm has a market cap of $25.58 billion, a P/E ratio of 11.25, a PEG ratio of 1.57 and a beta of 1.26. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company's fifty day moving average price is $182.63 and its 200 day moving average price is $183.19. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.77%. Dover's revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.36 EPS. As a group, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover's dividend payout ratio (DPR) 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.