Oppenheimer & Co. Inc. Decreases Stock Holdings in Dover Corporation (NYSE:DOV)

Oppenheimer & Co. Inc. cut its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 22.8% during the 1st quarter, according to its most recent Form 13F filing 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 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in DOV. Brighton Jones LLC increased its stake in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after buying an additional 1,128 shares during the period. Private Advisor Group LLC increased its stake in shares of Dover by 2.3% in the fourth quarter. Private Advisor Group LLC now owns 9,345 shares of the industrial products company's stock worth $1,753,000 after buying an additional 206 shares during the period. Crestwood Advisors Group LLC increased its stake in shares of Dover by 1.4% in the fourth quarter. Crestwood Advisors Group LLC now owns 5,279 shares of the industrial products company's stock worth $990,000 after buying an additional 75 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Dover by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,787 shares of the industrial products company's stock worth $2,211,000 after buying an additional 70 shares during the period. Finally, SRN Advisors LLC purchased a new position in shares of Dover in the fourth quarter worth $228,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 0.1%

Dover stock traded up $0.13 during mid-day trading on Friday, reaching $183.17. The stock had a trading volume of 1,179,623 shares, compared to its average volume of 954,714. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.76 and a beta of 1.27. The company has a 50-day moving average price of $176.89 and a two-hundred day moving average price of $183.41. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56.

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

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, May 30th. Dover's dividend payout ratio (DPR) is 12.41%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Dover in a report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. Barclays boosted their target price on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Robert W. Baird dropped their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, Citigroup dropped their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six equities 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, the company has a consensus rating of "Moderate Buy" and an average target price of $208.58.

Dover Company 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.