Abacus Planning Group Inc. Has $218,000 Stock Holdings in Dover Co. (NYSE:DOV)

Abacus Planning Group Inc. cut its position in Dover Co. (NYSE:DOV) by 19.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,231 shares of the industrial products company’s stock after selling 292 shares during the period. Abacus Planning Group Inc.’s holdings in Dover were worth $218,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vontobel Holding Ltd. grew its stake in shares of Dover by 7.2% in the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after buying an additional 1,718 shares during the period. Nordea Investment Management AB boosted its stake in Dover by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after purchasing an additional 29,096 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Dover by 9.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock valued at $34,820,000 after purchasing an additional 19,156 shares during the last quarter. Vest Financial LLC boosted its stake in Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock valued at $31,145,000 after purchasing an additional 53,273 shares during the last quarter. Finally, Norges Bank acquired a new position in Dover during the 4th quarter valued at about $175,275,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DOV. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup lifted their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Mizuho lifted their price target on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays lifted their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Oppenheimer lifted their price target on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Price Performance

Shares of Dover stock traded up $2.58 during trading on Monday, hitting $185.08. The stock had a trading volume of 115,436 shares, compared to its average volume of 998,633. The firm has a market cap of $25.44 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 2.27 and a beta of 1.24. Dover Co. has a 12 month low of $127.25 and a 12 month high of $188.64. The business’s 50-day moving average is $180.02 and its 200 day moving average is $167.42. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.94 earnings per share. As a group, sell-side analysts anticipate that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.10%. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Dover Company 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.