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

Farmers & Merchants Investments Inc. trimmed its holdings in Dover Co. (NYSE:DOV) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,405 shares of the industrial products company’s stock after selling 1,168 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Dover were worth $15,531,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wolverine Asset Management LLC raised its position in shares of Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 5,500 shares in the last quarter. Westpac Banking Corp raised its position in shares of Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock valued at $4,594,000 after acquiring an additional 22,777 shares in the last quarter. Rhumbline Advisers raised its position in shares of Dover by 5.8% during the 1st quarter. Rhumbline Advisers now owns 274,688 shares of the industrial products company’s stock valued at $48,257,000 after acquiring an additional 14,996 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Dover by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after acquiring an additional 444 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Dover by 3.7% during the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company’s stock valued at $28,949,000 after acquiring an additional 5,469 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 1.4%

NYSE:DOV opened at $176.27 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The stock has a fifty day simple moving average of $173.47 and a 200 day simple moving average of $185.39.

Dover (NYSE:DOV) last announced its quarterly earnings data 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 firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company posted $1.95 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. Dover’s dividend payout ratio is 12.41%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DOV shares. 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 report on Friday, May 16th. Robert W. Baird lowered their price objective on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Morgan Stanley initiated coverage on Dover in a research note on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective for the company. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Mizuho increased their price target on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.58.

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.