iA Global Asset Management Inc. Has $662,000 Stake in Dover Co. (NYSE:DOV)

iA Global Asset Management Inc. trimmed its stake in Dover Co. (NYSE:DOV) by 11.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,737 shares of the industrial products company’s stock after selling 470 shares during the period. iA Global Asset Management Inc.’s holdings in Dover were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the business. BSW Wealth Partners lifted its stake in shares of Dover by 1.2% during the 1st quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock worth $874,000 after buying an additional 59 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after buying an additional 62 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 63 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOV has been the topic of several research analyst reports. Citigroup raised their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays lifted their target price on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Stock Performance

DOV stock traded down $5.11 during midday trading on Thursday, hitting $179.15. The company’s stock had a trading volume of 897,297 shares, compared to its average volume of 1,016,459. The stock’s 50-day moving average price is $181.41 and its 200 day moving average price is $173.47. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.19 and a beta of 1.22.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Dover Co. will post 9.15 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.51 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.04 annualized dividend and a dividend yield of 1.14%. Dover’s payout ratio is presently 19.60%.

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.