Dover Co. (NYSE:DOV) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. cut its holdings in Dover Co. (NYSE:DOV) by 0.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 90,489 shares of the industrial products company’s stock after selling 242 shares during the period. Farmers & Merchants Investments Inc. owned about 0.07% of Dover worth $16,034,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of DOV. AdvisorNet Financial Inc lifted its position in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Dover in the 4th quarter valued at about $33,000. Life Planning Partners Inc bought a new stake in Dover in the 4th quarter valued at about $35,000. Orion Capital Management LLC bought a new stake in Dover in the 3rd quarter valued at about $32,000. Finally, Headinvest LLC bought a new stake in Dover in the 3rd quarter valued at about $32,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 0.2 %

Dover stock traded down $0.38 during trading hours on Tuesday, hitting $176.61. The company had a trading volume of 157,159 shares, compared to its average volume of 999,617. The firm has a market capitalization of $24.27 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The firm’s fifty day moving average is $181.20 and its 200-day moving average is $168.81. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $188.64.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 EPS. On average, research analysts forecast that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.51 per share. The ex-dividend date was Friday, May 31st. This represents a $2.04 annualized dividend and a dividend yield of 1.16%. Dover’s dividend payout ratio (DPR) is 19.60%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Oppenheimer boosted their price target on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Mizuho boosted their price target on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Robert W. Baird increased their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Barclays increased their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company increased their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.75.

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.