Hsbc Holdings PLC reduced its holdings in Dover Corporation (NYSE:DOV – Free Report) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000,020 shares of the industrial products company’s stock after selling 241,975 shares during the quarter. Hsbc Holdings PLC’s holdings in Dover were worth $195,295,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Orion Porfolio Solutions LLC grew its position in Dover by 0.7% in the fourth quarter. Orion Porfolio Solutions LLC now owns 7,542 shares of the industrial products company’s stock worth $1,472,000 after buying an additional 51 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Dover by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,439 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 52 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in shares of Dover by 3.5% during the 4th quarter. KCM Investment Advisors LLC now owns 1,585 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 53 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of Dover by 1.7% during the 4th quarter. Tectonic Advisors LLC now owns 3,176 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 54 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of Dover by 2.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 2,506 shares of the industrial products company’s stock worth $489,000 after acquiring an additional 56 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.
Dover Stock Performance
Shares of Dover stock opened at $223.64 on Friday. The stock has a market cap of $30.12 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.17. The business has a fifty day simple moving average of $217.43 and a 200-day simple moving average of $211.82. The company has a quick ratio of 1.32, a current ratio of 1.87 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12 month low of $158.97 and a 12 month high of $237.54.
Dover Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.52 dividend. The ex-dividend date was Friday, May 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s dividend payout ratio is currently 25.94%.
Analysts Set New Price Targets
Several brokerages have recently commented on DOV. Oppenheimer upped their target price on Dover from $242.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $229.00 price target on shares of Dover in a research note on Friday, April 24th. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $210.00 to $230.00 in a report on Tuesday, March 17th. Morgan Stanley upped their price objective on shares of Dover from $210.00 to $230.00 and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Finally, Seaport Research Partners lifted their target price on shares of Dover from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.85.
Read Our Latest Research Report on DOV
Dover Company Profile
Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.
Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.
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