Dover Corporation (NYSE:DOV) Holdings Decreased by DT Investment Partners LLC

DT Investment Partners LLC lessened its holdings in Dover Corporation (NYSE:DOV - Free Report) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,823 shares of the industrial products company's stock after selling 1,827 shares during the period. DT Investment Partners LLC's holdings in Dover were worth $1,374,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Norges Bank acquired a new position in Dover in the 4th quarter valued at $316,228,000. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 561,487 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Dover in the 4th quarter worth $99,017,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after acquiring an additional 524,092 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Dover by 350.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock worth $72,090,000 after acquiring an additional 319,319 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on DOV shares. Robert W. Baird cut their target price on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Barclays raised their price objective on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Citigroup cut their price objective on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. raised their price objective on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Dover presently has an average rating of "Moderate Buy" and a consensus price target of $206.50.

Dover Trading Down 0.5%

NYSE:DOV traded down $0.93 during mid-day trading on Friday, reaching $187.23. The company's stock had a trading volume of 488,787 shares, compared to its average volume of 954,704. The company's fifty day simple moving average is $179.00 and its two-hundred day simple moving average is $183.19. 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 Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The stock has a market cap of $25.67 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.81 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company's revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. On average, equities analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

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 $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, May 30th. Dover's payout ratio is 12.41%.

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.