Johnson Investment Counsel Inc. Sells 2,248 Shares of Dover Corporation $DOV

Key Points

• Johnson Investment Counsel Inc. has reduced its stake in Dover Corporation by 2.3%, selling 2,248 shares, and now holds 95,446 shares valued at approximately $17.5 million.
• Dover Corporation has received varying ratings from analysts, with eight firms rating the stock as a Buy and a consensus target price set at $212.42.
• The company recently announced a quarterly dividend of $0.52, marking an increase, and reflecting an annualized yield of 1.3% and a payout ratio of 12.55%.

Johnson Investment Counsel Inc. decreased its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,446 shares of the industrial products company's stock after selling 2,248 shares during the quarter. Johnson Investment Counsel Inc. owned 0.07% of Dover worth $17,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Dover by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock valued at $2,870,986,000 after buying an additional 106,679 shares in the last quarter. Nuveen LLC acquired a new stake in Dover in the first quarter valued at about $526,081,000. Invesco Ltd. boosted its stake in Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company's stock valued at $223,586,000 after buying an additional 93,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Dover by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company's stock valued at $172,759,000 after buying an additional 19,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company's stock valued at $147,680,000 after buying an additional 12,518 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup reissued a "buy" rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Royal Bank Of Canada lifted their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Wells Fargo & Company cut their price objective on Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Robert W. Baird lifted their price objective on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.42.

Dover Trading Down 0.4%

Shares of DOV stock opened at $161.64 on Friday. The company has a market cap of $22.17 billion, a P/E ratio of 9.75, a PEG ratio of 1.29 and a beta of 1.26. The stock has a 50 day simple moving average of $173.71 and a two-hundred day simple moving average of $175.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The business had revenue of $1.78 billion during the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%. Research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date was Friday, August 29th. This is an increase from Dover's previous quarterly dividend of $0.52. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Dover's dividend payout ratio is presently 12.55%.

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.

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