New York State Common Retirement Fund lowered its position in Dover Corporation (NYSE:DOV - Free Report) by 25.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 89,440 shares of the industrial products company's stock after selling 31,179 shares during the period. New York State Common Retirement Fund owned 0.07% of Dover worth $15,713,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of DOV. Golden State Wealth Management LLC grew its stake in Dover by 707.3% during the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after purchasing an additional 1,740 shares during the period. Allspring Global Investments Holdings LLC increased its stake 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 in the last quarter. Farther Finance Advisors LLC boosted 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 purchasing an additional 187 shares in the last quarter. Heartland Bank & Trust Co bought a new position in shares of Dover during the 1st quarter worth about $739,000. Finally, Alpine Bank Wealth Management bought a new stake in Dover in the 1st quarter valued at about $374,000. 84.46% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on DOV. Wells Fargo & Company boosted their price target 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. Barclays upped their target price on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Mizuho upped 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $208.58.
Read Our Latest Analysis on DOV
Dover Stock Up 0.4%
NYSE DOV opened at $187.80 on Thursday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a market capitalization of $25.75 billion, a PE ratio of 11.31, a PEG ratio of 1.79 and a beta of 1.26. 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 moving average is $181.75 and its 200 day moving average is $183.13.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $1.95 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.
Dover Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.515 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover's payout ratio is currently 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.
See Also
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