Meeder Asset Management Inc. Has $17.48 Million Holdings in Dover Corporation (NYSE:DOV)

Key Points

• Meeder Asset Management Inc. significantly increased its holdings in Dover Corporation by 87,946.0%, resulting in ownership of 99,492 shares worth approximately $17.48 million.
• Several analysts have boosted their price targets for Dover, with the average target now at $213.92 and a consensus rating of "Moderate Buy".
• Dover Corporation recently reported a quarterly earnings per share (EPS) of $2.44, surpassing estimates, with revenue growth of 5.2% year-over-year.

Meeder Asset Management Inc. boosted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 87,946.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,492 shares of the industrial products company's stock after buying an additional 99,379 shares during the quarter. Dover makes up approximately 1.2% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 18th largest position. Meeder Asset Management Inc. owned approximately 0.07% of Dover worth $17,479,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ecofi Investissements SA increased its position in Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after buying an additional 50 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Dover by 4.0% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock worth $306,000 after acquiring an additional 67 shares during the period. Lido Advisors LLC boosted its holdings in shares of Dover by 1.4% during the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock worth $923,000 after acquiring an additional 69 shares during the period. Colonial Trust Co SC boosted its holdings in shares of Dover by 11.1% during the fourth quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after acquiring an additional 72 shares during the period. Finally, Premier Path Wealth Partners LLC boosted its holdings in shares of Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DOV shares. Royal Bank Of Canada boosted their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday. Wells Fargo & Company boosted their price target on Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. Barclays boosted their price target on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $213.92.

Dover Trading Down 0.9%

Shares of DOV opened at $184.91 on Tuesday. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The business's fifty day moving average is $182.60 and its 200-day moving average is $183.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The firm has a market cap of $25.35 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.49 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $2.36 EPS. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued 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 1.11%. Dover's dividend payout ratio (DPR) is presently 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.

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