M&T Bank Corp cut its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,856 shares of the industrial products company's stock after selling 1,652 shares during the period. M&T Bank Corp owned approximately 0.09% of Dover worth $21,408,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Dover in the fourth quarter worth approximately $316,228,000. GAMMA Investing LLC increased its holdings in shares of Dover by 35,832.0% in the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after buying an additional 561,487 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Dover in the fourth quarter valued at $99,017,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of Dover by 31.6% in the fourth 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 buying an additional 524,092 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Dover by 350.8% in the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock valued at $72,090,000 after buying an additional 319,319 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Dover Stock Performance
Shares of NYSE DOV traded down $1.52 during mid-day trading on Friday, hitting $189.00. The company had a trading volume of 729,007 shares, compared to its average volume of 953,846. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. The business's 50-day simple moving average is $180.78 and its 200-day simple moving average is $183.12. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The firm has a market cap of $25.91 billion, a P/E ratio of 11.39, a PEG ratio of 1.80 and a beta of 1.26.
Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the company earned $1.95 earnings per share. The firm's revenue was down .9% on a year-over-year basis. As a group, analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.
Dover Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, May 30th. Dover's payout ratio is presently 12.41%.
Wall Street Analyst Weigh In
Several analysts have issued reports on DOV shares. Wells Fargo & Company boosted their target price on shares of Dover from $180.00 to $190.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. boosted their target price on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays upped their price target on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Finally, Citigroup dropped their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $206.50.
View Our Latest Stock Analysis on DOV
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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