26,363 Shares in Dover Corporation (NYSE:DOV) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 26,363 shares of the industrial products company's stock, valued at approximately $4,631,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock valued at $3,045,772,000 after acquiring an additional 57,453 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dover by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after acquiring an additional 74,541 shares in the last quarter. FMR LLC raised its holdings in Dover by 1.1% in the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock valued at $585,010,000 after acquiring an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Dover by 31.6% in the 4th 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 acquiring an additional 524,092 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Dover by 16.6% in the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock valued at $323,896,000 after purchasing an additional 245,535 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Down 0.0%

Shares of Dover stock traded down $0.02 on Friday, hitting $186.61. 720,956 shares of the company's stock traded hands, compared to its average volume of 1,064,650. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. 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 company has a fifty day moving average of $182.63 and a two-hundred day moving average of $183.20. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26.

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 for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. Dover had a return on equity of 19.54% and a net margin of 28.85%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business earned $2.36 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, May 30th. Dover's dividend payout ratio is presently 12.41%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DOV. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. Robert W. Baird lifted their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays boosted their price objective on Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Royal Bank Of Canada boosted their price objective on Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $213.42.

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.