HM Payson & Co. Boosts Stock Position in Dover Corporation (NYSE:DOV)

HM Payson & Co. increased its stake in shares of Dover Corporation (NYSE:DOV - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,827 shares of the industrial products company's stock after acquiring an additional 5,110 shares during the period. HM Payson & Co. owned about 0.07% of Dover worth $17,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOV. North Capital Inc. acquired a new stake in Dover in the first quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 87 shares during the period. Orion Capital Management LLC acquired a new stake in Dover in the fourth quarter valued at approximately $43,000. Ameriflex Group Inc. acquired a new stake in Dover in the fourth quarter valued at approximately $69,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Dover in the fourth quarter valued at approximately $75,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho raised their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and issued a $176.00 target price on shares of Dover in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their target price on Dover from $180.00 to $190.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $206.50.

Dover Trading Down 0.5%

NYSE DOV traded down $0.93 on Friday, reaching $187.23. 488,787 shares of the company were exchanged, compared to its average volume of 954,704. The business's fifty day moving average price is $179.00 and its 200 day moving average price is $183.19. The stock has a market capitalization of $25.67 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. 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 Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

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, topping analysts' consensus estimates of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company posted $1.95 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. Analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, May 30th. Dover's dividend payout ratio (DPR) is presently 12.41%.

Dover 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.