Headlands Technologies LLC Has $824,000 Stake in Dover Corporation (NYSE:DOV)

Key Points

• Headlands Technologies LLC reduced its stake in Dover Corporation by 35.1%, owning 4,691 shares valued at $824,000 after selling 2,537 shares in the first quarter.
• Multiple analysts upgraded their price targets for Dover, with Citigroup raising it to $226.00 and JPMorgan lifting it to $217.00, reflecting a consensus rating of "Moderate Buy".
• Dover recently announced a quarterly dividend of $0.52, amounting to an annualized dividend of $2.08, indicating a dividend yield of 1.2%.

Headlands Technologies LLC lowered its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 35.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,691 shares of the industrial products company's stock after selling 2,537 shares during the quarter. Headlands Technologies LLC's holdings in Dover were worth $824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in shares of Dover during the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover during the 1st quarter worth about $31,000. Costello Asset Management INC acquired a new position in shares of Dover in the first quarter worth about $35,000. Orion Capital Management LLC purchased a new position in shares of Dover in the fourth quarter worth approximately $43,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Dover during the fourth quarter valued at approximately $69,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOV shares. Royal Bank Of Canada lifted their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Wells Fargo & Company lifted their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective for the company. Robert W. Baird raised their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Performance

Shares of NYSE:DOV traded up $2.70 during midday trading on Tuesday, hitting $177.99. The company's stock had a trading volume of 901,612 shares, compared to its average volume of 1,071,317. 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 stock's 50 day simple moving average is $182.21 and its 200 day simple moving average is $181.93. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.38 and a beta of 1.26. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) 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 firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $2.36 EPS. The company's revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate 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. Stockholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is 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.