Mirae Asset Global Investments Co. Ltd. raised its holdings in Dover Co. (NYSE:DOV – Get Rating) by 46.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 16,329 shares of the industrial products company's stock after acquiring an additional 5,193 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Dover were worth $2,561,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American International Group Inc. boosted its stake in shares of Dover by 0.5% in the 4th quarter. American International Group Inc. now owns 43,192 shares of the industrial products company's stock valued at $7,844,000 after purchasing an additional 205 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Dover by 2.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,736 shares of the industrial products company's stock valued at $2,676,000 after purchasing an additional 369 shares during the last quarter. ETF Managers Group LLC boosted its stake in shares of Dover by 5.0% in the 4th quarter. ETF Managers Group LLC now owns 5,003 shares of the industrial products company's stock valued at $904,000 after purchasing an additional 237 shares during the last quarter. Credit Suisse AG boosted its stake in Dover by 1.4% during the fourth quarter. Credit Suisse AG now owns 212,591 shares of the industrial products company's stock worth $38,608,000 after acquiring an additional 2,903 shares in the last quarter. Finally, Wahed Invest LLC bought a new position in Dover during the fourth quarter worth $309,000. 83.96% of the stock is currently owned by institutional investors and hedge funds.
Get Dover alerts:Dover Stock Performance
Shares of DOV stock opened at $119.75 on Monday. The firm has a 50-day moving average of $129.91 and a 200-day moving average of $134.70. The company has a market cap of $17.19 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.41 and a quick ratio of 0.87. Dover Co. has a one year low of $116.66 and a one year high of $184.04.
Dover (NYSE:DOV – Get Rating) last announced its earnings results on Thursday, July 21st. The industrial products company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.08 by $0.06. Dover had a net margin of 13.90% and a return on equity of 26.94%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $2.06 earnings per share. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts forecast that Dover Co. will post 8.5 EPS for the current fiscal year.Dover Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, August 30th. This is an increase from Dover's previous quarterly dividend of $0.50. Dover's dividend payout ratio (DPR) is 25.70%.
Analyst Upgrades and Downgrades
DOV has been the topic of several research analyst reports. Barclays cut their target price on shares of Dover from $140.00 to $128.00 and set an "equal weight" rating on the stock in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Dover from $135.00 to $132.00 in a research note on Friday, July 22nd. Mizuho cut their target price on shares of Dover from $175.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, July 18th. The Goldman Sachs Group lowered their price objective on shares of Dover from $176.00 to $146.00 and set a "buy" rating on the stock in a report on Thursday, June 23rd. Finally, Morgan Stanley lowered their price objective on shares of Dover from $161.00 to $149.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Dover has an average rating of "Hold" and an average price target of $161.17.
About Dover
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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
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