Deutsche Bank AG Has $116.51 Million Stake in Dover Corporation (NYSE:DOV)

Key Points

• Deutsche Bank AG has increased its stake in Dover Corporation by 11.0%, owning approximately 663,219 shares valued at $116.51 million as of the end of the first quarter.
• Research analysts have raised their price targets for Dover, with an average target price of $213.92 and a consensus rating of "Moderate Buy".
• Dover Corporation reported a quarterly earnings per share (EPS) of $2.44, exceeding expectations, and announced a quarterly dividend of $0.52, resulting in an annualized yield of 1.2%.

Deutsche Bank AG grew its position in Dover Corporation (NYSE:DOV - Free Report) by 11.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 663,219 shares of the industrial products company's stock after acquiring an additional 65,551 shares during the period. Deutsche Bank AG owned 0.48% of Dover worth $116,514,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. North Capital Inc. purchased a new position in Dover during the first quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new position in Dover in the 1st quarter worth approximately $31,000. Costello Asset Management INC bought a new stake in shares of Dover during the 1st quarter valued at $35,000. Orion Capital Management LLC purchased a new stake in shares of Dover in the fourth quarter worth about $43,000. Finally, Ameriflex Group Inc. bought a new position in Dover in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Down 2.2%

Shares of DOV stock traded down $4.11 on Thursday, hitting $178.73. The stock had a trading volume of 332,390 shares, compared to its average volume of 1,066,712. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.42 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The stock's 50 day moving average is $182.31 and its 200-day moving average is $181.91.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.05. The firm had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business posted $2.36 earnings per share. As a group, research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. Dover's dividend payout ratio (DPR) is currently 12.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DOV shares. Royal Bank Of Canada upped their price objective on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Barclays increased their price target on shares of Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Robert W. Baird boosted their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reiterated a "buy" rating and set a $226.00 price objective (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their price target on Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $213.92.

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.