DekaBank Deutsche Girozentrale Has $13.65 Million Holdings in Dover Corporation (NYSE:DOV)

DekaBank Deutsche Girozentrale increased its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,987 shares of the industrial products company's stock after acquiring an additional 4,054 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of Dover worth $13,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after purchasing an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock worth $2,227,000 after purchasing an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after purchasing an additional 187 shares in the last quarter. Heartland Bank & Trust Co acquired a new position in Dover in the first quarter worth $739,000. Finally, Alpine Bank Wealth Management acquired a new position in Dover in the first quarter worth $374,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Up 1.2%

NYSE:DOV opened at $190.48 on Friday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The business's 50-day moving average price is $180.47 and its two-hundred day moving average price is $183.18. 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 has a market capitalization of $26.11 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.80 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $1.95 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, May 30th. Dover's payout ratio is 12.41%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOV. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Citigroup cut their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $206.50.

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.

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