Dover Co. (NYSE:DOV) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its stake in shares of Dover Co. (NYSE:DOV) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,396 shares of the industrial products company’s stock after buying an additional 160 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Dover were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DOV. Norges Bank acquired a new position in Dover during the fourth quarter worth about $116,469,000. Alliancebernstein L.P. grew its position in Dover by 38.3% during the first quarter. Alliancebernstein L.P. now owns 2,198,614 shares of the industrial products company’s stock worth $301,496,000 after buying an additional 609,276 shares during the period. The PNC Financial Services Group Inc. grew its position in Dover by 59.2% during the first quarter. The PNC Financial Services Group Inc. now owns 897,977 shares of the industrial products company’s stock worth $123,138,000 after buying an additional 333,845 shares during the period. Morgan Stanley grew its position in Dover by 36.4% during the fourth quarter. Morgan Stanley now owns 1,015,245 shares of the industrial products company’s stock worth $128,175,000 after buying an additional 270,843 shares during the period. Finally, Boston Partners grew its position in Dover by 5.3% during the first quarter. Boston Partners now owns 4,492,201 shares of the industrial products company’s stock worth $616,343,000 after buying an additional 224,578 shares during the period. Institutional investors own 83.36% of the company’s stock.

Shares of DOV opened at $150.29 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $21.63 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The firm’s 50 day moving average price is $147.33. Dover Co. has a 1 year low of $90.03 and a 1 year high of $155.77.

Dover (NYSE:DOV) last announced its quarterly earnings data on Monday, April 19th. The industrial products company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.36. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.73 billion. Dover had a net margin of 10.73% and a return on equity of 26.74%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 earnings per share. As a group, equities research analysts expect that Dover Co. will post 6.98 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 28th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, May 27th. Dover’s payout ratio is 34.92%.

Several research analysts have weighed in on the stock. Barclays upped their target price on shares of Dover from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 21st. Royal Bank of Canada increased their price target on shares of Dover from $142.00 to $149.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 21st. JPMorgan Chase & Co. increased their price target on shares of Dover from $138.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, April 21st. Citigroup increased their price target on shares of Dover from $159.00 to $170.00 in a research report on Wednesday, April 21st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Dover from $159.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Dover currently has an average rating of “Hold” and a consensus price target of $149.91.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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