Stonehage Fleming Financial Services Holdings Ltd Lowers Holdings in Dover Corporation $DOV

Key Points

• Stonehage Fleming Financial Services Holdings Ltd has decreased its stake in Dover Corporation by 54.6%, resulting in ownership of 2,720 shares valued at approximately $498,000.
• Dover Corporation reported a $1.55 EPS for the quarter ending June 30th, alongside a 29.29% net margin and revenues of $1.78 billion.
• The company recently increased its quarterly dividend to $0.52 per share, reflecting a yield of 1.3% and a payout ratio of 12.55%.

Stonehage Fleming Financial Services Holdings Ltd cut its holdings in Dover Corporation (NYSE:DOV - Free Report) by 54.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,720 shares of the industrial products company's stock after selling 3,277 shares during the period. Stonehage Fleming Financial Services Holdings Ltd's holdings in Dover were worth $498,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new stake in shares of Dover during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover during the 1st quarter worth approximately $31,000. Truvestments Capital LLC raised its holdings in shares of Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after acquiring an additional 171 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Dover during the 2nd quarter worth approximately $33,000. Finally, Costello Asset Management INC purchased a new stake in shares of Dover during the 1st quarter worth approximately $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of Dover stock opened at $161.64 on Friday. The stock's fifty day moving average is $173.71 and its two-hundred day moving average is $175.80. The company has a market capitalization of $22.17 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. 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 announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company had revenue of $1.78 billion for the quarter. As a group, analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend 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 12.55%.

Analyst Ratings Changes

DOV has been the topic of several recent research reports. Citigroup reaffirmed a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Weiss Ratings restated a "buy (b-)" rating on shares of Dover in a report on Wednesday. Barclays decreased their price target on Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada increased their price target on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Dover presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.42.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.