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.
TRADEMARK VIOLATION WARNING: “MARSHALL WACE ASIA Ltd Invests $5.02 Million in Dover Corp (NYSE:DOV)” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2019/06/14/marshall-wace-asia-ltd-invests-5-02-million-in-dover-corp-nysedov.html.
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.
See Also: Stochastic Momentum Index (SMI)
Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.