Sumitomo Mitsui Trust Group Inc. Sells 4,806 Shares of Dover Corporation (NYSE:DOV)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Dover Corporation (NYSE:DOV - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 345,098 shares of the industrial products company's stock after selling 4,806 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Dover worth $60,627,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC acquired a new position in shares of Dover in the fourth quarter valued at approximately $43,000. Mainstream Capital Management LLC acquired a new position in shares of Dover in the fourth quarter valued at approximately $61,000. Ameriflex Group Inc. acquired a new stake in Dover during the 4th quarter worth approximately $69,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Dover during the 4th quarter worth approximately $75,000. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV traded up $2.94 during trading hours on Tuesday, hitting $186.17. 912,501 shares of the company were exchanged, compared to its average volume of 954,528. The company has a market cap of $25.52 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.76 and a beta of 1.27. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average is $177.40 and its 200 day moving average is $183.29.

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 (EPS) for the quarter, topping 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 company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm posted $1.95 EPS. Dover's quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.11%. Dover's dividend payout ratio is currently 12.41%.

Analysts Set New Price Targets

A number of research analysts have commented on DOV shares. Barclays upped their price objective on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Citigroup decreased their price objective on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. upped their price objective on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Finally, Mizuho upped their price objective on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.50.

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.