Nissay Asset Management Corp Japan ADV Decreases Stake in Dover Co. (NYSE:DOV)

Nissay Asset Management Corp Japan ADV lessened its stake in shares of Dover Co. (NYSE:DOV) by 2.3% in the first quarter, Holdings Channel reports. The institutional investor owned 13,741 shares of the industrial products company’s stock after selling 330 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Dover were worth $1,884,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Concord Wealth Partners purchased a new position in Dover during the 4th quarter valued at about $26,000. Capital Directions Investment Advisors LLC grew its holdings in Dover by 100.0% during the 4th quarter. Capital Directions Investment Advisors LLC now owns 220 shares of the industrial products company’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new position in Dover during the 4th quarter valued at about $29,000. Bogart Wealth LLC purchased a new position in Dover during the 1st quarter valued at about $30,000. Finally, Veriti Management LLC purchased a new position in Dover during the 4th quarter valued at about $33,000. 83.36% of the stock is owned by institutional investors and hedge funds.

NYSE:DOV opened at $150.29 on Friday. The stock has a 50 day moving average price of $147.33. The company has a market cap of $21.63 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. Dover Co. has a 1-year low of $90.03 and a 1-year high of $155.77. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.88.

Dover (NYSE:DOV) last announced its quarterly earnings data on Monday, April 19th. The industrial products company reported $1.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.36. Dover had a return on equity of 26.74% and a net margin of 10.73%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Dover Co. will post 6.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be given a $0.495 dividend. The ex-dividend date is Thursday, May 27th. This represents a $1.98 annualized dividend and a yield of 1.32%. Dover’s payout ratio is currently 34.92%.

DOV has been the subject of a number of recent analyst reports. Citigroup lifted their target price on Dover from $159.00 to $170.00 in a report on Wednesday, April 21st. JPMorgan Chase & Co. lifted their price target on Dover from $138.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Dover from $143.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, April 26th. Barclays lifted their price target on Dover from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Dover from $159.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Dover has an average rating of “Hold” and a consensus target price of $149.91.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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