Dover Corporation (NYSE:DOV) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,703 shares of the industrial products company's stock after selling 26,489 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Dover worth $28,232,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Ecofi Investissements SA boosted its stake in shares of Dover by 1.1% during the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after purchasing an additional 50 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Dover by 4.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after purchasing an additional 67 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after acquiring an additional 69 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of Dover by 11.1% in the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after acquiring an additional 72 shares during the last quarter. Finally, Premier Path Wealth Partners LLC boosted its position in shares of Dover by 5.5% in the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after acquiring an additional 80 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOV has been the topic of several research analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $176.00 target price on shares of Dover in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. 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 target on the stock. Finally, Barclays raised their price target 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.58.

Dover Stock Down 1.4%

Shares of DOV stock traded down $2.73 during mid-day trading on Friday, reaching $187.87. 329,889 shares of the company were exchanged, compared to its average volume of 953,435. 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 1.56 and a current ratio of 2.13. The company has a market capitalization of $25.76 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.79 and a beta of 1.26. The business's 50 day simple moving average is $182.06 and its 200 day simple moving average is $183.16.

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

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, May 30th. Dover's dividend payout ratio (DPR) is 12.41%.

About Dover

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.