Dover Corporation (NYSE:DOV) Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its holdings in Dover Corporation by 0.7%, now owning approximately 11.92% of the company, valued at around $2.87 billion.
• Dover has reported earnings of $2.44 per share for Q2, exceeding analysts' expectations, and has declared a quarterly dividend of $0.52 per share, marking an increase in its dividend.
• Equities analysts have raised their price targets for Dover, with a consensus target now at $213.92, indicating a positive outlook for the stock with a rating of "Moderate Buy."

Vanguard Group Inc. boosted its holdings in Dover Corporation (NYSE:DOV - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,342,135 shares of the industrial products company's stock after acquiring an additional 106,679 shares during the period. Vanguard Group Inc. owned 11.92% of Dover worth $2,870,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DOV. Wealthspire Advisors LLC grew its holdings in shares of Dover by 1.4% during the 1st quarter. Wealthspire Advisors LLC now owns 8,700 shares of the industrial products company's stock worth $1,528,000 after purchasing an additional 121 shares during the period. Costello Asset Management INC purchased a new position in shares of Dover during the 1st quarter worth $35,000. Cary Street Partners Financial LLC grew its holdings in shares of Dover by 3.8% during the 1st quarter. Cary Street Partners Financial LLC now owns 6,500 shares of the industrial products company's stock worth $1,142,000 after purchasing an additional 236 shares during the period. Raiffeisen Bank International AG grew its holdings in shares of Dover by 4.3% during the 1st quarter. Raiffeisen Bank International AG now owns 8,962 shares of the industrial products company's stock worth $1,565,000 after purchasing an additional 369 shares during the period. Finally, Delta Financial Group Inc. purchased a new position in shares of Dover during the 1st quarter worth $200,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 1.5%

DOV stock traded up $2.70 during mid-day trading on Tuesday, reaching $177.99. The company had a trading volume of 901,612 shares, compared to its average volume of 1,071,317. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The firm has a fifty day simple moving average of $182.21 and a 200 day simple moving average of $181.93. Dover Corporation 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, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. Dover's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.36 EPS. Analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's dividend payout ratio is 12.42%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Mizuho increased 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. Morgan Stanley started coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target for the company. Citigroup reissued a "buy" rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Finally, Robert W. Baird increased their target price on Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.92.

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.