National Bank of Canada FI Cuts Holdings in Dover Corporation (NYSE:DOV)

Key Points

• National Bank of Canada FI has decreased its holdings in Dover Corporation by 44.4%, selling 93,833 shares during the 1st quarter, leaving the bank with approximately 0.09% ownership.
• Multiple institutional investors have increased their stake in Dover, with GAMMA Investing LLC boosting its holdings by an astounding 35,832.0% during the same quarter.
• Dover recently declared a quarterly dividend of $0.52 per share, representing an annual yield of 1.2%, indicating a strong commitment to returning value to shareholders.

National Bank of Canada FI lessened its stake in Dover Corporation (NYSE:DOV - Free Report) by 44.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,593 shares of the industrial products company's stock after selling 93,833 shares during the period. National Bank of Canada FI owned 0.09% of Dover worth $20,660,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DOV. Ecofi Investissements SA raised its stake in Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after buying an additional 50 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Dover by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after buying an additional 67 shares during the last quarter. Lido Advisors LLC raised its stake in Dover by 1.4% during the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after buying an additional 69 shares during the last quarter. Colonial Trust Co SC raised its stake in Dover by 11.1% during the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after buying an additional 72 shares during the last quarter. Finally, Premier Path Wealth Partners LLC raised its stake in Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after buying an additional 80 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DOV shares. Citigroup reissued a "buy" rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Robert W. Baird lifted their target price on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Royal Bank Of Canada lifted their target price 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 lifted their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

Dover Stock Down 0.9%

Shares of NYSE DOV traded down $1.60 during mid-day trading on Friday, reaching $177.80. 159,870 shares of the company's stock traded hands, compared to its average volume of 1,063,668. The stock has a market cap of $24.38 billion, a P/E ratio of 10.72, a PEG ratio of 1.46 and a beta of 1.26. The business has a 50-day simple moving average of $182.36 and a 200 day simple moving average of $181.80. 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 current ratio of 1.95 and a quick ratio of 1.35.

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

Dover Increases Dividend

The firm 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 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 is Friday, August 29th. Dover's dividend 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.