Johnson Investment Counsel Inc. Sells 2,248 Shares of Dover Corporation $DOV

Johnson Investment Counsel Inc. decreased its position in shares of Dover Corporation (NYSE:DOV) by 2.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 95,446 shares of the industrial products company’s stock after selling 2,248 shares during the period. Johnson Investment Counsel Inc.’s holdings in Dover were worth $17,489,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Brighton Jones LLC increased its holdings in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 1,128 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Dover by 45.4% during the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 187 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Dover during the first quarter valued at approximately $203,000. GAMMA Investing LLC boosted its position in shares of Dover by 104.5% during the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company’s stock valued at $563,000 after buying an additional 1,638 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of Dover during the first quarter valued at approximately $233,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.4%

Shares of NYSE DOV opened at $161.64 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock has a market capitalization of $22.17 billion, a PE ratio of 9.75, a P/E/G ratio of 1.29 and a beta of 1.26. The business’s fifty day moving average price is $173.71 and its 200-day moving average price is $175.80.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 18.19% and a net margin of 29.29%.The company had revenue of $1.78 billion for the quarter. On average, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is presently 12.55%.

Analysts Set New Price Targets

DOV has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Citigroup reaffirmed a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Wells Fargo & Company cut their target price on Dover from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their price objective on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.42.

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.