Envestnet Portfolio Solutions Inc. Decreases Stake in Dover Corporation (NYSE:DOV)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,478 shares of the industrial products company's stock after selling 5,819 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Dover were worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Dover in the 4th quarter worth approximately $316,228,000. GAMMA Investing LLC raised its holdings in Dover by 35,832.0% during the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after acquiring an additional 561,487 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Dover during the fourth quarter worth $99,017,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Dover by 31.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after acquiring an additional 524,092 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after purchasing an additional 319,319 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on DOV shares. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price for the company. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Robert W. Baird reduced their price objective on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Citigroup lowered their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.58.

Dover Stock Down 0.5%

DOV opened at $174.74 on Monday. The business's fifty day simple moving average is $175.00 and its 200 day simple moving average is $184.13. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.96 billion, a PE ratio of 10.53, a P/E/G ratio of 1.68 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (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 analysts' expectations of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. As a group, research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors 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 1.18%. The ex-dividend date of this dividend was Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.

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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