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

Vanguard Group Inc. boosted its position in Dover Corporation (NYSE:DOV) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 about 0.12% of Dover worth $2,870,986,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. North Capital Inc. purchased a new stake in shares of Dover in the first quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new stake in Dover in the 1st quarter worth about $31,000. Costello Asset Management INC purchased a new stake in Dover in the 1st quarter valued at about $35,000. Orion Capital Management LLC acquired a new position in shares of Dover during the 4th quarter valued at about $43,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Dover during the 4th quarter worth about $69,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

Shares of NYSE DOV opened at $173.43 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.39 and a beta of 1.26. The business has a 50-day moving average of $182.22 and a 200-day moving average of $182.33.

Dover (NYSE:DOV) last released 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. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. Dover’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 EPS. On average, equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 12.42%.

Analysts Set New Price Targets

DOV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Dover from $211.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Citigroup reissued a “buy” rating and set a $226.00 price objective (up from $202.00) on shares of Dover in a research note on Monday, July 14th. Wells Fargo & Company upped their price objective on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Finally, Mizuho upped their price target on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.92.

About Dover

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.