Bessemer Group Inc. cut its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 55.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,999 shares of the industrial products company's stock after selling 11,140 shares during the period. Bessemer Group Inc.'s holdings in Dover were worth $1,582,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Orion Capital Management LLC purchased a new position in Dover during the fourth quarter worth about $43,000. Mainstream Capital Management LLC purchased a new position in Dover during the fourth quarter worth about $61,000. Ameriflex Group Inc. purchased a new position in Dover during the fourth quarter worth about $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in Dover during the fourth quarter worth about $75,000. 84.46% of the stock is owned by institutional investors.
Dover Stock Performance
Shares of DOV stock opened at $183.17 on Friday. The stock has a market capitalization of $25.11 billion, a P/E ratio of 11.03, a PEG ratio of 1.76 and a beta of 1.27. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The firm's 50 day moving average is $176.89 and its 200 day moving average is $183.54. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.
Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. Dover had a net margin of 28.85% and a return on equity of 19.54%. Dover's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.95 EPS. On average, sell-side 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 issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Friday, May 30th. Dover's dividend payout ratio (DPR) is presently 12.41%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on DOV. Citigroup cut their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays boosted their price target on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $208.58.
Read Our Latest Stock Report on DOV
Dover Company Profile
(
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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