MQS Management LLC Makes New Investment in Dover Corporation (NYSE:DOV)

MQS Management LLC bought a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,381 shares of the industrial products company's stock, valued at approximately $418,000.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in shares of Dover by 707.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after acquiring an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after buying an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after buying an additional 187 shares in the last quarter. Heartland Bank & Trust Co bought a new position in shares of Dover in the first quarter valued at $739,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Dover in the first quarter valued at $374,000. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. Robert W. Baird reduced their price objective on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Citigroup reaffirmed a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday. Finally, Mizuho lifted their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.58.

Dover Price Performance

NYSE DOV traded up $2.73 during trading on Thursday, hitting $190.57. 879,916 shares of the company's stock were exchanged, compared to its average volume of 955,838. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The company has a market cap of $26.13 billion, a PE ratio of 11.48, a P/E/G ratio of 1.79 and a beta of 1.26. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock's 50 day moving average price is $182.06 and its two-hundred day moving average price is $183.16.

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

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, May 30th. Dover's dividend payout ratio (DPR) is currently 12.41%.

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.