Invesco Ltd. Grows Holdings in Dover Corporation $DOV

Invesco Ltd. boosted its position in Dover Corporation (NYSE:DOV - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,272,690 shares of the industrial products company's stock after acquiring an additional 93,483 shares during the quarter. Invesco Ltd. owned 0.93% of Dover worth $223,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. Ecofi Investissements SA increased its holdings in shares of Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after acquiring an additional 50 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Dover by 4.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 67 shares during the period. Lido Advisors LLC increased its holdings in shares of Dover by 1.4% in the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after acquiring an additional 69 shares during the period. Colonial Trust Co SC increased its holdings in shares of Dover by 11.1% in the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock valued at $135,000 after acquiring an additional 72 shares during the period. Finally, Premier Path Wealth Partners LLC increased its holdings in shares of Dover by 5.5% in the 1st quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock valued at $270,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Dover from $203.00 to $206.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird boosted their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Citigroup reiterated a "buy" rating and issued a $226.00 price objective (up from $202.00) on shares of Dover in a research report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the company 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 company. Based on data from MarketBeat, Dover presently has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Trading Up 0.4%

Shares of NYSE:DOV traded up $0.70 during trading on Monday, reaching $177.24. 151,448 shares of the stock were exchanged, compared to its average volume of 1,060,833. The firm has a market cap of $24.31 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.41 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 50-day moving average price is $182.30 and its 200 day moving average price is $181.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. Dover's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 EPS. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. This is an increase from Dover's previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Dover's dividend payout ratio (DPR) is currently 12.55%.

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.