Dover Corporation (NYSE:DOV) Stock Position Lifted by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Dover Corporation by 26.6%, acquiring an additional 7,182 shares, bringing their total holdings to 34,205 shares worth approximately $6 million.
• Analysts have raised their price targets on Dover, with Robert W. Baird setting a new target of $234.00, reflecting an overall positive outlook with a consensus rating of "Moderate Buy" among analysts.
• Dover reported a quarterly earnings per share (EPS) of $2.44, exceeding consensus estimates and marking a 5.2% year-over-year revenue increase to $2.05 billion.

Allianz Asset Management GmbH increased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 26.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,205 shares of the industrial products company's stock after buying an additional 7,182 shares during the quarter. Allianz Asset Management GmbH's holdings in Dover were worth $6,009,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC raised its stake in shares of Dover by 41.5% during the first quarter. Lindbrook Capital LLC now owns 1,914 shares of the industrial products company's stock worth $336,000 after buying an additional 561 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Dover by 4.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,586 shares of the industrial products company's stock worth $1,860,000 after buying an additional 439 shares during the period. IFP Advisors Inc lifted its position in shares of Dover by 243.0% in the 1st quarter. IFP Advisors Inc now owns 7,526 shares of the industrial products company's stock worth $1,322,000 after purchasing an additional 5,332 shares during the period. Elyxium Wealth LLC acquired a new position in shares of Dover in the 1st quarter worth approximately $360,000. Finally, Copperwynd Financial LLC lifted its position in shares of Dover by 24.3% during the 1st quarter. Copperwynd Financial LLC now owns 1,604 shares of the industrial products company's stock valued at $282,000 after acquiring an additional 314 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

NYSE:DOV traded down $0.76 on Thursday, hitting $181.46. The company had a trading volume of 129,404 shares, compared to its average volume of 1,063,869. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.46 and a beta of 1.26. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm has a 50 day moving average of $182.67 and a two-hundred day moving average of $183.15. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $2.36 EPS. Dover's revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. Dover's dividend payout ratio is currently 12.42%.

Analysts Set New Price Targets

Several research firms have recently issued reports on DOV. Mizuho upped their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. boosted their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Morgan Stanley began coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price for the company. Finally, Royal Bank Of Canada increased their target price on Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Dover presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

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.