Penserra Capital Management LLC Sells 320 Shares of Dover Corporation (NYSE:DOV)

Penserra Capital Management LLC reduced its holdings in shares of Dover Corporation (NYSE:DOV) by 32.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 668 shares of the industrial products company’s stock after selling 320 shares during the quarter. Penserra Capital Management LLC’s holdings in Dover were worth $117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Capital Inc. bought a new position in shares of Dover during the 1st quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC bought a new position in shares of Dover during the 4th quarter worth approximately $43,000. Ameriflex Group Inc. bought a new stake in Dover in the 4th quarter valued at $69,000. Finally, Quarry LP boosted its stake in Dover by 257.0% in the 4th quarter. Quarry LP now owns 407 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 293 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Dover stock opened at $189.00 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $25.91 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. The stock has a fifty day moving average of $180.78 and a 200-day moving average of $183.12.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. Dover’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.515 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. Dover’s payout ratio is presently 12.41%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup reduced their price target on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Robert W. Baird reduced their price target on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Barclays lifted their price objective on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $206.50.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.