Charles Schwab Investment Management Inc. Raises Stock Position in Dover Corporation (NYSE:DOV)

Charles Schwab Investment Management Inc. raised its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 840,621 shares of the industrial products company's stock after purchasing an additional 12,518 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.61% of Dover worth $147,680,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after buying an additional 1,128 shares in the last quarter. Renaissance Technologies LLC boosted its position in Dover by 11.1% in the 4th quarter. Renaissance Technologies LLC now owns 126,500 shares of the industrial products company's stock valued at $23,731,000 after buying an additional 12,600 shares during the period. Advisory Services Network LLC boosted its position in Dover by 40.8% in the 4th quarter. Advisory Services Network LLC now owns 2,293 shares of the industrial products company's stock valued at $430,000 after buying an additional 665 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Dover in the 4th quarter worth approximately $30,741,000. Finally, Sterling Capital Management LLC lifted its position in shares of Dover by 53.7% in the 4th quarter. Sterling Capital Management LLC now owns 8,348 shares of the industrial products company's stock worth $1,566,000 after purchasing an additional 2,916 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Trading Down 0.8%

Shares of DOV traded down $1.40 during trading on Friday, reaching $178.00. 135,676 shares of the company traded hands, compared to its average volume of 1,063,510. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a market cap of $24.41 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. The stock has a 50-day simple moving average of $182.36 and a 200-day simple moving average of $181.80. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data 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 net margin of 29.29% and a return on equity of 18.19%. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. The business's quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. 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 yield of 1.2%. The ex-dividend date is Friday, August 29th. Dover's payout ratio is presently 12.42%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Royal Bank Of Canada boosted 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, July 25th. 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. JPMorgan Chase & Co. increased their price objective on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price target on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Finally, Citigroup reissued a "buy" rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and a consensus price target of $213.92.

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.