Dover Corporation (NYSE:DOV) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its holdings in Dover Corporation by 15.5%, selling 2,015 shares, and now owns 10,988 shares valued at approximately $1.93 million.
• Dover Corporation reported earnings of $2.44 per share for the last quarter, exceeding expectations, alongside a revenue increase of 5.2% year-over-year.
• The company declared a quarterly dividend of $0.52, reflecting a dividend yield of 1.2% and a payout ratio of 12.42%.

Mizuho Securities USA LLC lessened its stake in Dover Corporation (NYSE:DOV - Free Report) by 15.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,988 shares of the industrial products company's stock after selling 2,015 shares during the period. Mizuho Securities USA LLC's holdings in Dover were worth $1,930,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company's stock worth $2,870,986,000 after purchasing an additional 106,679 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of 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 acquiring an additional 524,092 shares during the period. Northern Trust Corp lifted its stake in shares of Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock valued at $323,896,000 after buying an additional 245,535 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Dover by 4.4% during the 4th quarter. Voya Investment Management LLC now owns 1,229,179 shares of the industrial products company's stock valued at $230,477,000 after buying an additional 52,067 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Dover by 1.4% during the 4th quarter. ProShare Advisors LLC now owns 1,034,790 shares of the industrial products company's stock valued at $194,127,000 after buying an additional 14,202 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Barclays boosted their price target on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Wells Fargo & Company increased their price objective on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Royal Bank Of Canada increased their target price 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. JPMorgan Chase & Co. raised their price target on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Robert W. Baird increased their price objective on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.92.

Dover Price Performance

Shares of NYSE DOV traded down $3.29 during trading on Thursday, hitting $179.55. The company had a trading volume of 772,093 shares, compared to its average volume of 1,069,686. The stock has a fifty day simple moving average of $182.31 and a two-hundred day simple moving average of $181.91. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market capitalization of $24.62 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced its 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 net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $2.36 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

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