GAMMA Investing LLC increased its position in shares of Dover Corporation (NYSE:DOV – Free Report) by 104.5% during the first quarter, HoldingsChannel.com reports. The firm owned 3,205 shares of the industrial products company’s stock after buying an additional 1,638 shares during the period. GAMMA Investing LLC’s holdings in Dover were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of DOV. EverSource Wealth Advisors LLC increased its holdings in Dover by 79.1% in the 4th 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 acquired a new stake in shares of Dover during the 4th quarter valued at about $43,000. Mainstream Capital Management LLC bought a new stake in Dover in the fourth quarter valued at about $61,000. Ameriflex Group Inc. acquired a new position in Dover in the fourth quarter worth about $69,000. Finally, SBI Securities Co. Ltd. bought a new position in Dover during the fourth quarter worth about $75,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Dover Price Performance
Shares of DOV stock opened at $183.34 on Tuesday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $25.14 billion, a PE ratio of 11.04, a PEG ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. The stock’s fifty day moving average is $177.40 and its 200-day moving average is $183.29.
Dover (NYSE:DOV – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The company’s revenue was down .9% on a year-over-year basis. Equities research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.
Dover Dividend Announcement
The business 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s dividend payout ratio is currently 12.41%.
Wall Street Analyst Weigh In
DOV has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Morgan Stanley started coverage on Dover in a research note on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective for the company. Mizuho boosted their target price on shares of Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.58.
Read Our Latest Analysis on DOV
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.
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