Dover Co. (NYSE:DOV) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in shares of Dover Co. (NYSE:DOV) by 153.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,633,453 shares of the industrial products company’s stock after acquiring an additional 1,595,611 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.92% of Dover worth $466,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOV. LRI Investments LLC purchased a new stake in Dover during the first quarter worth $28,000. Toronto Dominion Bank boosted its position in Dover by 2.1% during the first quarter. Toronto Dominion Bank now owns 79,143 shares of the industrial products company’s stock worth $14,023,000 after purchasing an additional 1,643 shares in the last quarter. First Commonwealth Financial Corp PA boosted its position in Dover by 8.1% during the first quarter. First Commonwealth Financial Corp PA now owns 3,498 shares of the industrial products company’s stock worth $620,000 after purchasing an additional 261 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Dover by 0.6% in the first quarter. EP Wealth Advisors LLC now owns 20,683 shares of the industrial products company’s stock valued at $3,665,000 after acquiring an additional 127 shares in the last quarter. Finally, LGT Group Foundation lifted its position in shares of Dover by 2.2% in the first quarter. LGT Group Foundation now owns 26,388 shares of the industrial products company’s stock valued at $4,676,000 after acquiring an additional 556 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DOV. Mizuho upped their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Oppenheimer upped their price objective on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Citigroup increased their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Robert W. Baird reiterated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. 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 to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Trading Down 0.7 %

NYSE:DOV traded down $1.24 on Monday, hitting $183.99. 184,770 shares of the stock were exchanged, compared to its average volume of 1,012,037. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The stock has a market cap of $25.29 billion, a PE ratio of 17.79, a PEG ratio of 2.24 and a beta of 1.22. The stock has a fifty day moving average of $181.49 and a 200-day moving average of $172.86.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business posted $2.05 earnings per share. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts expect that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio is presently 19.60%.

Dover Company 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.