Auto Owners Insurance Co Lowers Holdings in Dover Corporation $DOV

Auto Owners Insurance Co decreased its stake in Dover Corporation (NYSE:DOV) by 97.9% during the second quarter, Holdings Channel reports. The institutional investor owned 3,900 shares of the industrial products company’s stock after selling 185,977 shares during the quarter. Auto Owners Insurance Co’s holdings in Dover were worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. North Capital Inc. purchased a new stake in shares of Dover in the first quarter worth about $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dover in the first quarter worth about $31,000. Harbour Investments Inc. boosted its stake in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 60 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock worth $33,000 after buying an additional 171 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. purchased a new stake in shares of Dover in the second quarter worth about $33,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of Dover stock opened at $179.70 on Wednesday. The business has a 50 day simple moving average of $172.15 and a two-hundred day simple moving average of $176.32. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a market capitalization of $24.65 billion, a P/E ratio of 11.05, a PEG ratio of 1.38 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion during the quarter. As a group, analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued 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 dividend yield of 1.2%. Dover’s payout ratio is currently 12.79%.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Robert W. Baird set a $235.00 price target on Dover in a report on Friday. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group set a $200.00 price target on Dover in a report on Friday. Finally, Royal Bank Of Canada upped their price target on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

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.