Mirae Asset Global Investments Co. Ltd. raised its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,056 shares of the industrial products company's stock after purchasing an additional 1,754 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Dover were worth $3,677,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Dover by 45.4% during the 1st quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after buying an additional 187 shares during the last quarter. Heartland Bank & Trust Co acquired a new stake in shares of Dover in the 1st quarter valued at approximately $739,000. Rhumbline Advisers grew its holdings in shares of Dover by 5.8% during the 1st quarter. Rhumbline Advisers now owns 274,688 shares of the industrial products company's stock valued at $48,257,000 after purchasing an additional 14,996 shares during the last quarter. Westpac Banking Corp increased its position in Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock worth $4,594,000 after purchasing an additional 22,777 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Dover in the 1st quarter valued at approximately $374,000. Institutional investors and hedge funds own 84.46% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley began coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price for the company. Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Robert W. Baird cut their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Dover presently has an average rating of "Moderate Buy" and an average price target of $206.50.
View Our Latest Stock Report on DOV
Dover Trading Up 1.1%
NYSE:DOV opened at $188.23 on Thursday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm's fifty day moving average is $178.29 and its 200-day moving average is $183.34. The firm has a market cap of $25.81 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. Dover had a net margin of 28.85% and a return on equity of 19.54%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 earnings per share. Equities analysts expect 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. Shareholders of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, May 30th. Dover's dividend payout ratio (DPR) is presently 12.41%.
About Dover
(
Free Report)
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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