Andra AP fonden acquired a new position in shares of Dover Corp (NYSE:DOV) in the first quarter, HoldingsChannel reports. The fund acquired 73,000 shares of the industrial products company’s stock, valued at approximately $6,847,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DOV. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Dover during the first quarter worth about $524,000. Wealthfront Advisers LLC acquired a new stake in shares of Dover in the first quarter valued at approximately $234,000. Burney Co. increased its stake in shares of Dover by 5.1% in the first quarter. Burney Co. now owns 133,919 shares of the industrial products company’s stock valued at $12,562,000 after purchasing an additional 6,500 shares during the period. Hancock Whitney Corp increased its stake in shares of Dover by 3.3% in the first quarter. Hancock Whitney Corp now owns 3,832 shares of the industrial products company’s stock valued at $359,000 after purchasing an additional 122 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of Dover by 43.5% during the first quarter. Commonwealth Equity Services LLC now owns 22,153 shares of the industrial products company’s stock valued at $2,078,000 after acquiring an additional 6,711 shares during the period. Hedge funds and other institutional investors own 84.96% of the company’s stock.
NYSE DOV opened at $96.54 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30. Dover Corp has a 1 year low of $65.83 and a 1 year high of $99.46. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.46 and a beta of 1.47.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a yield of 1.99%. Dover’s payout ratio is 38.63%.
A number of analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Zacks Investment Research lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Citigroup set a $113.00 target price on shares of Dover and gave the company a “buy” rating in a research note on Monday, April 22nd. ValuEngine raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Finally, Deutsche Bank set a $102.00 price target on shares of Dover and gave the company a “hold” rating in a report on Monday, April 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $94.10.
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Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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