Dover Corporation (NYSE:DOV) Shares Purchased by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. increased its stake in Dover Corporation by 84.9%, owning 6,327 shares valued at approximately $1.11 million after purchasing an additional 2,905 shares in the first quarter.
• Dover Corporation reported an earnings per share (EPS) of $2.44 for the most recent quarter, surpassing analyst expectations of $2.39, with a year-over-year revenue increase of 5.2%.
• The company's quarterly dividend was recently paid at $0.515 per share, resulting in an annualized dividend yield of 1.10%.

Machina Capital S.A.S. lifted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 84.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,327 shares of the industrial products company's stock after buying an additional 2,905 shares during the period. Machina Capital S.A.S.'s holdings in Dover were worth $1,112,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DOV. Golden State Wealth Management LLC grew its holdings in Dover by 707.3% in the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock valued at $349,000 after purchasing an additional 1,740 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Dover by 10.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock valued at $2,227,000 after purchasing an additional 1,160 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Dover by 45.4% in the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 187 shares during the last quarter. Heartland Bank & Trust Co acquired a new stake in Dover in the first quarter valued at $739,000. Finally, GAMMA Investing LLC grew its holdings in Dover by 104.5% in the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock valued at $563,000 after purchasing an additional 1,638 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DOV shares. Wells Fargo & Company upped their target price on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday. Citigroup reissued a "buy" rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Robert W. Baird raised their price target on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley assumed coverage on Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target for the company. Finally, Barclays raised their price target on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Trading Up 0.1%

Shares of DOV stock traded up $0.10 during mid-day trading on Monday, hitting $186.60. 214,526 shares of the company's stock were exchanged, compared to its average volume of 1,064,534. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock has a 50-day simple moving average of $182.63 and a two-hundred day simple moving average of $183.14. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.49 and a beta of 1.26.

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

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, May 30th. Dover's payout ratio is currently 12.42%.

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.