Bank of New York Mellon Corp lowered its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,119,527 shares of the industrial products company's stock after selling 8,921 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of Dover worth $196,679,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. North Capital Inc. purchased a new position in Dover during the first quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its stake in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC purchased a new position in shares of Dover in the 4th quarter valued at $43,000. Ameriflex Group Inc. purchased a new position in shares of Dover in the 4th quarter valued at $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Dover in the 4th quarter valued at $75,000. Hedge funds and other institutional investors own 84.46% of the company's stock.
Dover Price Performance
Shares of NYSE:DOV opened at $187.30 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a 50-day simple moving average of $179.34 and a 200 day simple moving average of $183.10. The company has a market cap of $25.68 billion, a PE ratio of 11.28, a P/E/G ratio of 1.81 and a beta of 1.26.
Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The company's revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.
Dover Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, May 30th. Dover's dividend payout ratio is presently 12.41%.
Wall Street Analysts Forecast Growth
DOV has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Robert W. Baird lowered their price target on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Barclays raised their price target on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $206.50.
View Our Latest Stock Report on DOV
Dover Company Profile
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Free Report)
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.
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