Dover Corporation (NYSE:DOV) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in Dover Corporation (NYSE:DOV - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,716 shares of the industrial products company's stock after buying an additional 2,561 shares during the quarter. QRG Capital Management Inc. owned about 0.07% of Dover worth $16,113,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after buying an additional 87 shares during the period. Orion Capital Management LLC bought a new stake in shares of Dover during the 4th quarter valued at $43,000. Mainstream Capital Management LLC bought a new stake in shares of Dover during the 4th quarter valued at $61,000. Catalyst Capital Advisors LLC bought a new stake in shares of Dover during the 4th quarter valued at $68,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Dover during the 4th quarter valued at $69,000. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DOV has been the topic of a number of analyst reports. Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Barclays upped their price objective on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Finally, Mizuho increased their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $208.58.

Dover Stock Performance

Dover stock traded down $0.53 during trading on Wednesday, reaching $175.55. The company had a trading volume of 1,090,709 shares, compared to its average volume of 954,947. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm's 50-day simple moving average is $174.25 and its 200 day simple moving average is $184.85. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last posted 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 return on equity of 19.54% and a net margin of 28.85%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. Sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.515 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.17%. Dover's payout ratio is 12.41%.

Dover Company 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.