Allspring Global Investments Holdings LLC reduced its holdings in Dover Inc. (NYSE: DOV – Free Report ) by 1.7% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund sold 128 shares during the quarter to hold 7,344 shares of the industrial products company. Allspring Global Investments Holdings LLC’s holdings of Dover stock were valued at $1.301 million at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced shares of the company. Vontobel Holding increased its holdings in Dover by 7.2% in the fourth quarter. Vontobel Holding now owns 25,421 shares of the industrial products company worth $3.91 million after acquiring an additional 1,718 shares in the last quarter. Nordea Investment Management AB increased its holdings in Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company worth $85.612 million after acquiring an additional 29,096 shares in the last quarter. Nomura Asset Management increased its holdings in Dover by 9.2% in the fourth quarter. Nomura Asset Management Co., Ltd. now owns 226,382 shares of the industrial products company’s stock valued at $34,820,000 after purchasing an additional 19,156 shares during the period. Best Financial LLC increased its holdings in Dover by 35.7% during the fourth quarter. Best Financial LLC now owns 202,490 shares of the industrial products company’s stock valued at $31,145,000 after purchasing an additional 53,273 shares during the period. Finally, Norges Bank purchased a new share of Dover stock in the fourth quarter worth approximately $175,275,000. 84.46% of the stock is now held by institutional investors and hedge funds.
Analyst Rating Changes
Several equity research analysts have recently issued their opinions on DOV stock. Mizuho increased their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays increased their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Oppenheimer increased their price target on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating, and seven have given a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of a “moderate buy” with a consensus target price of $185.75.
Get the latest Dover reports
Dover Trading fell 0.2%
DOV shares opened at $176.68 on Friday. The company has a market cap of $24.28 billion, a P/E ratio of 16.97, a P/G ratio of 2.15 and a beta of 1.22. Dover Inc.’s one-year low and high are $127.25 and $188.64, respectively. The company’s debt-to-equity ratio is 0.58, quick ratio is 0.89 and current ratio is 1.31. The stock’s 50-day moving average price is $181.30 and 200-day moving average price is $169.27.
Dover (NYSE:DOV – Get free report ) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.04%, and a net margin of 17.28%. The company’s quarterly revenue was $2.09 billion, beating analyst expectations of $2.03 billion. In the same period last year, the company posted earnings per share of $1.94. Dover’s quarterly revenue increased 0.7% year over year. Sell-side analysts expect Dover to post 9.1 EPS for the current fiscal year.
Dover announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.51 per share. This equates to an annualized dividend of $2.04, or a yield of 1.15%. The ex-dividend date for this dividend was Friday, May 31st. Dover’s dividend payout ratio is currently 19.60%.
Dover Profile
(Free report)
Dover Corporation provides equipment, components, consumables, aftermarket parts, software, digital solutions and support services worldwide. The company’s Engineered Products division offers a variety of equipment, components, software, solutions and services used in the automotive aftermarket, waste handling, industrial automation, aerospace and defense, industrial winches and hoists and fluid dispensing end markets.
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