IFM Investors Pty Ltd Buys 2,481 Shares of Dover Corporation (NYSE:DOV)

IFM Investors Pty Ltd increased its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,456 shares of the industrial products company's stock after purchasing an additional 2,481 shares during the period. IFM Investors Pty Ltd's holdings in Dover were worth $5,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Dover during the 4th quarter worth approximately $316,228,000. GAMMA Investing LLC increased its stake in Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after purchasing an additional 561,487 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Dover in the 4th quarter valued at about $99,017,000. Adage Capital Partners GP L.L.C. grew its holdings in Dover by 31.6% during the 4th 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. Finally, Assenagon Asset Management S.A. lifted its holdings in 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 valued at $72,090,000 after purchasing an additional 319,319 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of DOV stock traded up $1.11 during trading hours on Tuesday, hitting $188.48. The company had a trading volume of 892,749 shares, compared to its average volume of 954,914. 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 firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.81 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 firm's fifty day moving average is $179.34 and its 200 day moving average is $183.10.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating 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 firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period last year, the firm posted $1.95 EPS. The business's revenue was down .9% on a year-over-year basis. On average, sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced 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 was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. Dover's payout ratio is currently 12.41%.

Wall Street Analyst Weigh In

DOV has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Finally, Wells Fargo & Company lifted their price target 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.50.

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.