Dover Co. (NYSE:DOV) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 350.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,350 shares of the industrial products company's stock after purchasing an additional 319,319 shares during the quarter. Assenagon Asset Management S.A. owned about 0.30% of Dover worth $72,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted 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 worth $552,000 after purchasing an additional 1,128 shares during the period. Golden State Wealth Management LLC acquired a new stake in shares of Dover during the fourth quarter worth about $46,000. Empowered Funds LLC lifted its holdings in shares of Dover by 2.0% during the fourth quarter. Empowered Funds LLC now owns 13,426 shares of the industrial products company's stock worth $2,519,000 after purchasing an additional 268 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Dover by 29.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,206 shares of the industrial products company's stock worth $1,164,000 after purchasing an additional 1,427 shares during the period. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Dover during the fourth quarter worth about $107,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of Dover stock traded down $0.40 on Thursday, reaching $178.74. The company's stock had a trading volume of 768,709 shares, compared to its average volume of 957,726. The company has a market capitalization of $24.51 billion, a P/E ratio of 9.19, a PEG ratio of 2.06 and a beta of 1.27. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The stock has a 50-day moving average price of $172.41 and a 200-day moving average price of $185.78. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The business's revenue was down .9% compared to the same quarter last year. Analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, May 30th. Dover's payout ratio is 12.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DOV shares. JPMorgan Chase & Co. lifted their target price on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $176.00 price target on shares of Dover in a report on Friday, April 25th. Barclays boosted their price target on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Mizuho set a $215.00 price target on Dover in a report on Friday, May 16th. Finally, Citigroup decreased their price target on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $207.75.

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.