Pallas Capital Advisors LLC boosted its stake in Dover Co. (NYSE:DOV - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,899 shares of the industrial products company's stock after buying an additional 4,017 shares during the period. Pallas Capital Advisors LLC's holdings in Dover were worth $9,469,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Dover by 27.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,302 shares of the industrial products company's stock worth $3,629,000 after purchasing an additional 4,194 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Dover by 0.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 349,904 shares of the industrial products company's stock valued at $65,642,000 after buying an additional 2,143 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Dover by 0.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,351 shares of the industrial products company's stock valued at $4,005,000 after buying an additional 181 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover during the 4th quarter worth about $46,000. 84.46% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Barclays lifted their target price on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Robert W. Baird lowered their price objective on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $176.00 target price on shares of Dover in a report on Friday, April 25th. Morgan Stanley assumed coverage on shares of Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price for the company. Finally, Mizuho set a $215.00 price target on Dover in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $207.75.
Read Our Latest Analysis on Dover
Dover Stock Down 0.2%
NYSE:DOV traded down $0.40 during trading hours on Thursday, hitting $178.74. 768,709 shares of the stock traded hands, compared to its average volume of 960,481. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 2.06 and a beta of 1.27. The firm has a 50 day moving average price of $172.41 and a 200 day moving average price of $185.78. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.
Dover (NYSE:DOV - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. Dover's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities research analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.
Dover Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.
Dover Company Profile
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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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