Segall Bryant & Hamill LLC Cuts Position in Dover Corporation (NYSE:DOV)

Segall Bryant & Hamill LLC reduced its position in Dover Corporation (NYSE:DOV) by 13.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,889 shares of the industrial products company’s stock after selling 7,147 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Dover were worth $8,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Dover by 62.1% during the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 1,128 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Dover by 15.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,213 shares of the industrial products company’s stock valued at $1,166,000 after purchasing an additional 854 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Dover in the 4th quarter valued at approximately $283,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Dover by 1.6% in 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 during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Dover stock opened at $190.57 on Friday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. The business has a 50 day simple moving average of $182.06 and a 200-day simple moving average of $183.16. The stock has a market capitalization of $26.13 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $1.95 EPS. Equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s payout ratio is currently 12.41%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company raised their target price on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Citigroup reissued a “buy” rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a research note on Monday. Finally, Robert W. Baird cut their target price on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.58.

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.