MARSHALL WACE ASIA Ltd Invests $5.02 Million in Dover Corp (NYSE:DOV)

MARSHALL WACE ASIA Ltd purchased a new position in Dover Corp (NYSE:DOV) during the first quarter, HoldingsChannel.com reports. The firm purchased 53,470 shares of the industrial products company’s stock, valued at approximately $5,015,000.

Several other hedge funds have also recently added to or reduced their stakes in DOV. BlackRock Inc. boosted its stake in shares of Dover by 17.4% in the 4th quarter. BlackRock Inc. now owns 11,821,885 shares of the industrial products company’s stock worth $838,764,000 after buying an additional 1,754,640 shares during the last quarter. Boston Partners raised its holdings in Dover by 29.2% in the 1st quarter. Boston Partners now owns 7,642,284 shares of the industrial products company’s stock worth $716,846,000 after purchasing an additional 1,728,856 shares during the period. Norges Bank bought a new position in Dover in the 4th quarter worth $89,421,000. Deutsche Bank AG raised its holdings in Dover by 126.5% in the 4th quarter. Deutsche Bank AG now owns 999,883 shares of the industrial products company’s stock worth $70,937,000 after purchasing an additional 558,477 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in Dover by 1,827.0% in the 4th quarter. Squarepoint Ops LLC now owns 267,712 shares of the industrial products company’s stock worth $18,994,000 after purchasing an additional 253,819 shares during the period. Hedge funds and other institutional investors own 84.96% of the company’s stock.

NYSE:DOV traded down $1.23 on Friday, reaching $95.55. 5,292 shares of the company’s stock traded hands, compared to its average volume of 779,737. The company has a quick ratio of 0.87, a current ratio of 1.30 and a debt-to-equity ratio of 1.04. The stock has a market cap of $13.94 billion, a PE ratio of 19.28, a P/E/G ratio of 1.47 and a beta of 1.48. Dover Corp has a 12 month low of $65.83 and a 12 month high of $99.46.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 18th. The industrial products company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.12. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Dover had a return on equity of 28.48% and a net margin of 7.69%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Sell-side analysts anticipate that Dover Corp will post 5.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a yield of 2.01%. Dover’s dividend payout ratio is presently 38.63%.

A number of equities analysts recently commented on the company. ValuEngine raised Dover from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research raised Dover from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Wednesday, April 24th. Citigroup set a $113.00 target price on Dover and gave the stock a “buy” rating in a report on Monday, April 22nd. Deutsche Bank set a $102.00 target price on Dover and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Morgan Stanley raised their target price on Dover from $97.00 to $101.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $94.10.

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Dover Profile

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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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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