Dover Corporation (NYSE:DOV) Shares Sold by KBC Group NV

KBC Group NV decreased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,984 shares of the industrial products company's stock after selling 3,862 shares during the period. KBC Group NV's holdings in Dover were worth $4,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Dover in the fourth quarter valued at $316,228,000. GAMMA Investing LLC increased its position in Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock worth $98,917,000 after purchasing an additional 561,487 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Dover in the fourth quarter worth approximately $99,017,000. Adage Capital Partners GP L.L.C. raised its holdings in Dover by 31.6% during the fourth 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 buying an additional 524,092 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after purchasing an additional 319,319 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of Dover stock opened at $188.23 on Thursday. The firm has a market cap of $25.81 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock's 50-day moving average is $178.29 and its 200-day moving average is $183.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56.

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, beating analysts' consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. Dover's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 earnings per share. Equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.09%. Dover's payout ratio is presently 12.41%.

Wall Street Analyst Weigh In

Several analysts have issued reports on DOV shares. JPMorgan Chase & Co. raised their price target on shares of Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Robert W. Baird cut their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Mizuho raised their price target on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, Morgan Stanley started coverage on Dover in a report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.50.

Dover Company 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.

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