Janney Montgomery Scott LLC Cuts Holdings in Dover Corporation (NYSE:DOV)

Janney Montgomery Scott LLC decreased its position in Dover Corporation (NYSE:DOV - Free Report) by 9.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 94,384 shares of the industrial products company's stock after selling 9,662 shares during the period. Janney Montgomery Scott LLC owned about 0.07% of Dover worth $16,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ecofi Investissements SA increased its stake in shares of 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 purchasing an additional 50 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 67 shares in the last quarter. Lido Advisors LLC increased its stake in shares of 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 purchasing an additional 69 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Dover by 0.6% during 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 purchasing an additional 70 shares in the last quarter. Finally, Colonial Trust Co SC increased its stake in shares of 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 purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Down 0.3%

Shares of NYSE DOV opened at $175.55 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The stock has a market cap of $24.07 billion, a PE ratio of 10.58, a P/E/G ratio of 1.69 and a beta of 1.27. The company has a 50-day moving average of $174.44 and a 200 day moving average of $184.78. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31.

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

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 annualized dividend and a yield of 1.17%. Dover's payout ratio is 12.41%.

Analyst Ratings Changes

A number of research firms have recently commented on DOV. Robert W. Baird cut their target price 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. Barclays boosted their target price on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Mizuho boosted 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. Citigroup cut their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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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