Dover Corporation $DOV Shares Sold by WealthPLAN Partners LLC

Key Points

• WealthPLAN Partners LLC reduced its holdings in Dover Corporation by 27.6% during the second quarter, now holding 11,972 shares worth approximately $2.19 million.
• Dover Corporation recently announced a quarterly dividend of $0.52 per share, representing a yield of 1.3%, and an annualized dividend of $2.08.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with a consensus price target of $212.67.

WealthPLAN Partners LLC cut its position in Dover Corporation (NYSE:DOV - Free Report) by 27.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,972 shares of the industrial products company's stock after selling 4,574 shares during the quarter. WealthPLAN Partners LLC's holdings in Dover were worth $2,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of DOV. Nuveen LLC acquired a new position in Dover during the 1st quarter worth $526,081,000. Hsbc Holdings PLC grew its stake in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company's stock worth $107,677,000 after purchasing an additional 268,931 shares in the last quarter. Strs Ohio acquired a new position in Dover during the 1st quarter worth $40,148,000. Allianz Asset Management GmbH grew its stake in Dover by 647.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 255,648 shares of the industrial products company's stock worth $46,842,000 after purchasing an additional 221,443 shares in the last quarter. Finally, Auto Owners Insurance Co grew its stake in Dover by 4,768.6% during the 1st quarter. Auto Owners Insurance Co now owns 189,877 shares of the industrial products company's stock worth $33,358,000 after purchasing an additional 185,977 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 0.0%

Dover stock opened at $162.58 on Thursday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week 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. The company has a market capitalization of $22.29 billion, a P/E ratio of 9.81, a PEG ratio of 1.29 and a beta of 1.26. The stock has a 50-day simple moving average of $172.89 and a 200-day simple moving average of $175.50.

Dover (NYSE:DOV - Get Free Report) last posted its 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 business had revenue of $1.78 billion during the quarter. Equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 1.3%. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio (DPR) is currently 12.55%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company lowered their target price on Dover from $195.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday, October 6th. JPMorgan Chase & Co. raised their target price on Dover from $217.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Dover in a research note on Wednesday, October 8th. Robert W. Baird boosted their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Barclays lowered their target price on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.67.

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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