Dover Corporation (NYSE:DOV) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,397 shares of the industrial products company's stock after selling 5,434 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Dover were worth $3,232,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares in the last quarter. Orion Capital Management LLC acquired a new position in Dover during the fourth quarter worth $43,000. Mainstream Capital Management LLC purchased a new stake in Dover in the 4th quarter valued at $61,000. Ameriflex Group Inc. acquired a new stake in shares of Dover in the 4th quarter worth $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Dover during the 4th quarter worth $75,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

DOV stock opened at $180.19 on Thursday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a market capitalization of $24.70 billion, a P/E ratio of 10.85, a P/E/G ratio of 1.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. The business's 50-day moving average is $175.99 and its two-hundred day moving average is $183.91.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the previous year, the business posted $1.95 EPS. The firm's revenue was down .9% on a year-over-year basis. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.14%. Dover's payout ratio is currently 12.41%.

Analysts Set New Price Targets

Several research firms recently issued reports on DOV. Barclays raised their price objective on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Mizuho lifted their price target on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Robert W. Baird lowered their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Citigroup decreased their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley initiated coverage on shares of Dover in a report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.58.

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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