Banque Cantonale Vaudoise Makes New Investment in Dover Corporation (NYSE:DOV)

Key Points

• Banque Cantonale Vaudoise acquired 5,230 shares of Dover Corporation valued at approximately $919,000 in the first quarter.
• Analysts have mixed ratings for Dover, with a consensus average price target of $213.92 and some firms upgrading their targets, such as Citigroup raising it to $226.00.
• Dover reported earnings of $2.44 per share for the last quarter, surpassing analysts' expectations and showing a 5.2% year-over-year revenue increase.

Banque Cantonale Vaudoise acquired a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,230 shares of the industrial products company's stock, valued at approximately $919,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in Dover by 97.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 41,849 shares of the industrial products company's stock valued at $7,357,000 after acquiring an additional 20,610 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Dover in the 1st quarter valued at $31,000. Meeder Asset Management Inc. lifted its stake in shares of Dover by 87,946.0% in the 1st quarter. Meeder Asset Management Inc. now owns 99,492 shares of the industrial products company's stock valued at $17,479,000 after purchasing an additional 99,379 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Dover by 72.2% in the 1st quarter. Mackenzie Financial Corp now owns 22,915 shares of the industrial products company's stock valued at $4,026,000 after purchasing an additional 9,607 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Dover by 37.9% in the 1st quarter. LPL Financial LLC now owns 199,486 shares of the industrial products company's stock valued at $35,046,000 after purchasing an additional 54,807 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on DOV. Morgan Stanley began 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 for the company. Barclays boosted their target price on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, Citigroup restated a "buy" rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Price Performance

Shares of NYSE:DOV traded down $6.17 during midday trading on Friday, hitting $174.97. 1,540,718 shares of the stock were exchanged, compared to its average volume of 1,161,363. The company has a 50 day moving average price of $182.64 and a 200-day moving average price of $182.96. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The stock has a market cap of $23.99 billion, a P/E ratio of 10.55, a PEG ratio of 1.39 and a beta of 1.26. 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 posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $2.36 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

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.