Meiji Yasuda Life Insurance Co acquired a new stake in Dover Corp (NYSE:DOV) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 9,600 shares of the industrial products company’s stock, valued at approximately $900,000.
A number of other institutional investors and hedge funds have also modified their holdings of DOV. Stifel Financial Corp boosted its position in shares of Dover by 1.5% during the fourth quarter. Stifel Financial Corp now owns 72,331 shares of the industrial products company’s stock worth $5,107,000 after buying an additional 1,046 shares during the period. Yorktown Management & Research Co Inc acquired a new position in shares of Dover during the first quarter worth about $206,000. Weiss Multi Strategy Advisers LLC boosted its position in shares of Dover by 41.5% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 75,000 shares of the industrial products company’s stock worth $5,321,000 after buying an additional 22,000 shares during the period. Goelzer Investment Management Inc. acquired a new position in shares of Dover during the first quarter worth about $593,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Dover by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 41,726 shares of the industrial products company’s stock worth $3,912,000 after buying an additional 495 shares during the period. Hedge funds and other institutional investors own 84.96% of the company’s stock.
Shares of Dover stock traded down $0.08 on Thursday, hitting $96.46. The stock had a trading volume of 3,729 shares, compared to its average volume of 809,582. Dover Corp has a twelve month low of $65.83 and a twelve month high of $99.46. The company has a current ratio of 1.30, a quick ratio of 0.87 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.46 and a beta of 1.48.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 30th. Dover’s payout ratio is 38.63%.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, March 27th. ValuEngine raised Dover from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Robert W. Baird lowered Dover from an “outperform” rating to a “neutral” rating in a report on Monday, April 22nd. Morgan Stanley upped their target price on Dover from $92.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, March 8th. Finally, Deutsche Bank set a $102.00 target price on Dover and gave the stock 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 issued a buy rating to the stock. Dover currently has a consensus rating of “Hold” and a consensus target price of $94.10.
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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