Heartland Bank & Trust Co Buys Shares of 4,205 Dover Corporation (NYSE:DOV)

Heartland Bank & Trust Co bought a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,205 shares of the industrial products company's stock, valued at approximately $739,000.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares during the period. Orion Capital Management LLC acquired a new position in shares of Dover during the 4th quarter worth approximately $43,000. Mainstream Capital Management LLC acquired a new position in shares of Dover during the 4th quarter worth approximately $61,000. Ameriflex Group Inc. acquired a new position in shares of Dover during the 4th quarter worth approximately $69,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Dover during the 4th quarter worth approximately $75,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Up 1.6%

Shares of DOV stock traded up $2.83 on Monday, hitting $177.71. 841,287 shares of the stock traded hands, compared to its average volume of 957,125. The firm's 50-day moving average price is $175.00 and its two-hundred day moving average price is $184.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. The stock has a market capitalization of $24.36 billion, a PE ratio of 10.71, a PEG ratio of 1.68 and a beta of 1.27. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. Dover had a net margin of 28.85% and a return on equity of 19.54%. The company's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. As a group, analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 1.16%. Dover's payout ratio is 12.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. 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 for the company. Barclays upped their target price on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Citigroup reduced their price objective on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Finally, Mizuho lifted 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.58.

About Dover

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.