GAMMA Investing LLC boosted its position in shares of Dover Co. (NYSE:DOV - Free Report) by 35,832.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 563,054 shares of the industrial products company's stock after acquiring an additional 561,487 shares during the quarter. GAMMA Investing LLC owned 0.41% of Dover worth $98,917,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Dover in the 4th quarter valued at about $316,228,000. Balyasny Asset Management L.P. bought a new stake in Dover in the fourth quarter valued at approximately $99,017,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Dover by 31.6% in 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 during the last quarter. Woodline Partners LP boosted its stake in shares of Dover by 352.9% during the 4th quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock worth $72,260,000 after acquiring an additional 300,124 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after acquiring an additional 245,535 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Citigroup lowered their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada restated a "sector perform" rating and set a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price on the stock. Finally, Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $207.75.
View Our Latest Report on Dover
Dover Price Performance
DOV traded up $0.45 on Thursday, hitting $178.11. 167,197 shares of the stock were exchanged, compared to its average volume of 962,187. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 2.06 and a beta of 1.28. The business has a 50-day moving average of $171.41 and a two-hundred day moving average of $186.52.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.95 EPS. Sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.
Dover Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.16%. Dover's payout ratio is 12.41%.
Dover Company Profile
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Free Report)
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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