Boston Partners Has $147.19 Million Stake in Dover Corporation (NYSE:DOV)

Key Points

• Boston Partners reduced its stake in Dover Corporation by 39.1% during the first quarter, selling over 537,000 shares, leaving them with approximately 0.61% ownership valued at $147.19 million.
• Several institutional investors, including Vanguard Group and Nuveen LLC, have increased their holdings in Dover, with institutional investors now owning 84.46% of the stock.
• Dover Corporation's recent earnings report showed a strong performance with an EPS of $2.44, surpassing estimates, and the company announced an increase in its quarterly dividend to $0.52 per share.

Boston Partners lowered its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 39.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 837,990 shares of the industrial products company's stock after selling 537,203 shares during the quarter. Boston Partners owned approximately 0.61% of Dover worth $147,193,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after acquiring an additional 106,679 shares during the period. Nuveen LLC acquired a new stake in shares of Dover in the first quarter valued at approximately $526,081,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock valued at $409,530,000 after buying an additional 524,092 shares during the last quarter. Northern Trust Corp grew its holdings in Dover by 16.6% in the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after buying an additional 245,535 shares in the last quarter. Finally, Invesco Ltd. increased its position in Dover by 7.9% in the 1st quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock valued at $223,586,000 after acquiring an additional 93,483 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DOV shares. Royal Bank Of Canada boosted their price target on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Barclays increased their target price on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Mizuho raised their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Price Performance

Shares of DOV traded down $2.89 during trading hours on Friday, hitting $176.51. 620,594 shares of the company were exchanged, compared to its average volume of 1,242,368. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The company has a market capitalization of $24.20 billion, a PE ratio of 10.65, a PEG ratio of 1.41 and a beta of 1.26. The firm has a fifty day simple moving average of $182.30 and a 200-day simple moving average of $181.54. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $2.36 EPS. Dover's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 29th. This is a positive change from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is presently 12.42%.

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.