Johnson Investment Counsel Inc. Sells 2,152 Shares of Dover Corporation (NYSE:DOV)

Johnson Investment Counsel Inc. trimmed its position in Dover Corporation (NYSE:DOV - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,694 shares of the industrial products company's stock after selling 2,152 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.07% of Dover worth $17,163,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ecofi Investissements SA grew its position in Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after buying an additional 50 shares during the period. 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 acquiring an additional 67 shares in the last quarter. Lido Advisors LLC grew its position in shares of Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after acquiring an additional 69 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Dover by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,787 shares of the industrial products company's stock valued at $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% in the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after purchasing an additional 72 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DOV. Robert W. Baird dropped their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays boosted their price target on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Citigroup reduced their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Mizuho increased their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $208.58.

Dover Price Performance

Shares of NYSE DOV opened at $175.55 on Thursday. The firm has a 50-day simple moving average of $174.44 and a 200-day simple moving average of $184.78. 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 capitalization of $24.07 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31.

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, beating analysts' consensus estimates 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 the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. Dover's quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, May 30th. Dover's dividend payout ratio (DPR) is currently 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.

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