Olstein Capital Management L.P. Sells 2,482 Shares of Dover Co. (NYSE:DOV)

Olstein Capital Management L.P. decreased its position in shares of Dover Co. (NYSE:DOV - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,518 shares of the industrial products company's stock after selling 2,482 shares during the period. Olstein Capital Management L.P.'s holdings in Dover were worth $4,659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Dover during the fourth quarter worth $316,228,000. GAMMA Investing LLC lifted its position 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 worth $98,917,000 after buying an additional 561,487 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Dover during the 4th quarter worth about $99,017,000. Adage Capital Partners GP L.L.C. increased its position in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock valued at $409,530,000 after acquiring an additional 524,092 shares in the last quarter. Finally, Woodline Partners LP raised its stake in shares of Dover by 352.9% in the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock worth $72,260,000 after acquiring an additional 300,124 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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. Citigroup lowered their target price on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. upped their price target on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $176.00 price target on shares of Dover in a report on Friday, April 25th. Finally, Morgan Stanley assumed coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Six investment 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.com, Dover currently has an average rating of "Moderate Buy" and an average price target of $207.75.

Dover Stock Down 0.2%

Shares of NYSE:DOV traded down $0.40 during trading on Thursday, hitting $178.74. 768,709 shares of the company's stock traded hands, compared to its average volume of 960,481. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $172.41 and a 200-day moving average price of $185.78. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results 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. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the company posted $1.95 earnings per share. Dover's quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, May 30th. Dover's payout ratio is 12.41%.

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.