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

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after buying an additional 74,541 shares in the last quarter. FMR LLC raised its position in shares of Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock worth $585,010,000 after purchasing an additional 32,565 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock valued at $409,530,000 after acquiring an additional 524,092 shares in the last quarter. Northern Trust Corp raised its position in Dover by 16.6% in the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock valued at $323,896,000 after buying an additional 245,535 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Dover by 4.4% in the 4th quarter. Voya Investment Management LLC now owns 1,229,179 shares of the industrial products company's stock valued at $230,477,000 after buying an additional 52,067 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

Dover stock traded up $0.64 during midday trading on Tuesday, reaching $176.74. 455,912 shares of the stock traded hands, compared to its average volume of 1,070,377. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a market cap of $24.24 billion, a P/E ratio of 10.66, a PEG ratio of 1.39 and a beta of 1.26. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The stock's fifty day moving average is $182.61 and its 200-day moving average is $182.75.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm 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 business posted $2.36 earnings per share. The company's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on DOV shares. Barclays boosted their target price on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Mizuho raised their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley started coverage on shares of Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Dover presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.92.

About Dover

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.