Dover Corporation $DOV Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in Dover Corporation by 24.4% during the second quarter, resulting in ownership of 32,862 shares worth approximately $6 million.
• Dover Corporation recently increased its quarterly dividend to $0.52, which reflects an annualized dividend yield of 1.2%.
• Analysts have set an average price target of $212.25 for Dover stock, with recent targets ranging from $190 to $234 according to various financial institutions.

Mutual of America Capital Management LLC trimmed its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 24.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,862 shares of the industrial products company's stock after selling 10,583 shares during the quarter. Mutual of America Capital Management LLC's holdings in Dover were worth $6,021,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Dover by 0.7% during 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 1st quarter valued at approximately $526,081,000. Invesco Ltd. lifted its holdings in shares of 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 buying an additional 93,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Dover by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company's stock valued at $172,759,000 after buying an additional 19,387 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Dover by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company's stock valued at $147,680,000 after buying an additional 12,518 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV stock opened at $173.34 on Wednesday. The stock has a fifty day moving average price of $172.38 and a 200 day moving average price of $175.52. The stock has a market cap of $23.77 billion, a PE ratio of 10.45, a P/E/G ratio of 1.35 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 has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.78 billion during the quarter. Sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given 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 dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 29th. Dover's dividend payout ratio (DPR) is presently 12.55%.

Analysts Set New Price Targets

Several analysts have recently commented on DOV shares. Royal Bank Of Canada raised their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Robert W. Baird raised their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on Dover from $217.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Oppenheimer reduced their price target on Dover from $225.00 to $220.00 and set an "outperform" rating for the company in a report on Monday. Finally, Barclays reduced their price objective on Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average price target of $212.25.

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.

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