Elyxium Wealth LLC Acquires Shares of 2,047 Dover Corporation (NYSE:DOV)

Elyxium Wealth LLC acquired a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,047 shares of the industrial products company's stock, valued at approximately $360,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. North Capital Inc. acquired a new position in shares of Dover during the 1st quarter worth approximately $29,000. Orion Capital Management LLC purchased a new stake in shares of Dover during the fourth quarter worth $43,000. Ameriflex Group Inc. purchased a new stake in shares of Dover during the fourth quarter worth $69,000. Quarry LP grew its stake in shares of Dover by 257.0% during the fourth quarter. Quarry LP now owns 407 shares of the industrial products company's stock worth $76,000 after purchasing an additional 293 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Dover by 24.1% during the first quarter. SBI Securities Co. Ltd. now owns 494 shares of the industrial products company's stock worth $87,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Trading Down 1.3%

Shares of Dover stock opened at $188.07 on Friday. The company has a 50-day moving average of $182.30 and a two-hundred day moving average of $183.13. The stock has a market cap of $25.78 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS 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 net margin of 28.85% and a return on equity of 19.54%. The company's quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.95 earnings per share. On average, research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.515 dividend. 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 1.10%. Dover's dividend payout ratio (DPR) is presently 12.41%.

Analyst Upgrades and Downgrades

DOV has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup reiterated a "buy" rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Barclays increased their target price on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Mizuho increased their target price on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Wells Fargo & Company increased their target price on shares of Dover from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $208.58.

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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