Smith Shellnut Wilson LLC ADV purchased a new stake in shares of Dover Corp (NYSE:DOV) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,840 shares of the industrial products company’s stock, valued at approximately $266,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Parallel Advisors LLC boosted its position in shares of Dover by 9.4% during the 1st quarter. Parallel Advisors LLC now owns 1,368 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 117 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Dover by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 6,761 shares of the industrial products company’s stock valued at $480,000 after purchasing an additional 119 shares during the period. Hancock Whitney Corp boosted its holdings in Dover by 3.3% in the 1st 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. Cullen Frost Bankers Inc. boosted its holdings in Dover by 0.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 15,044 shares of the industrial products company’s stock valued at $1,067,000 after purchasing an additional 127 shares during the period. Finally, Gofen & Glossberg LLC IL boosted its holdings in Dover by 1.5% in the 1st quarter. Gofen & Glossberg LLC IL now owns 8,627 shares of the industrial products company’s stock valued at $809,000 after purchasing an additional 127 shares during the period. 84.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dover stock traded down $0.07 on Wednesday, hitting $96.30. 9,186 shares of the company traded hands, compared to its average volume of 1,040,197. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30. The stock has a market cap of $13.94 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.47. Dover Corp has a 12-month low of $65.83 and a 12-month high of $99.46.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 30th. Dover’s dividend payout ratio (DPR) is currently 38.63%.
Several research analysts have commented on the stock. ValuEngine raised shares of Dover from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Wednesday, April 24th. Citigroup set a $113.00 price target on shares of Dover and gave the company a “buy” rating in a report on Monday, April 22nd. 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. Finally, Morgan Stanley raised their price target on shares of Dover from $97.00 to $101.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target 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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