Sumitomo Mitsui Trust Holdings Inc. decreased its position in Dover Corp (NYSE:DOV) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 609,935 shares of the industrial products company’s stock after selling 4,504 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Dover were worth $57,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. BlackRock Inc. raised 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 valued at $838,764,000 after purchasing an additional 1,754,640 shares during the period. Boston Partners raised its stake in shares of Dover by 29.2% in the 1st quarter. Boston Partners now owns 7,642,284 shares of the industrial products company’s stock valued at $716,846,000 after purchasing an additional 1,728,856 shares during the period. Norges Bank acquired a new stake in shares of Dover in the 4th quarter valued at about $89,421,000. Deutsche Bank AG raised its stake in shares of Dover by 126.5% in the 4th quarter. Deutsche Bank AG now owns 999,883 shares of the industrial products company’s stock valued at $70,937,000 after purchasing an additional 558,477 shares during the period. Finally, Squarepoint Ops LLC raised its stake in shares of Dover by 1,827.0% in the 4th quarter. Squarepoint Ops LLC now owns 267,712 shares of the industrial products company’s stock valued at $18,994,000 after purchasing an additional 253,819 shares during the period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $91.95, for a total value of $831,044.10. Following the transaction, the vice president now owns 4,192 shares of the company’s stock, valued at approximately $385,454.40. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

NYSE:DOV opened at $90.90 on Friday. 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 capitalization of $13.21 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.45 and a beta of 1.49. Dover Corp has a 52-week low of $65.83 and a 52-week high of $99.46.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, May 30th. Dover’s dividend payout ratio is currently 38.63%.

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

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About Dover

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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