Mitsubishi UFJ Trust & Banking Corp Sells 7,580 Shares of Dover Corporation $DOV

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Dover Corporation (NYSE:DOV) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,322 shares of the industrial products company’s stock after selling 7,580 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Dover were worth $12,335,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DOV. Vanguard Group Inc. increased its holdings in Dover by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock worth $2,870,986,000 after purchasing an additional 106,679 shares in the last quarter. Nuveen LLC bought a new stake in Dover during the first quarter worth $526,081,000. Invesco Ltd. raised its position in Dover by 7.9% in the 1st quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after buying an additional 93,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Dover by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock valued at $172,759,000 after acquiring an additional 19,387 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Dover by 11.5% during the 2nd quarter. ProShare Advisors LLC now owns 975,551 shares of the industrial products company’s stock worth $178,750,000 after acquiring an additional 100,849 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on DOV shares. Wells Fargo & Company increased their target price on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Oppenheimer increased their price objective on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley lifted their target price on shares of Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. UBS Group set a $200.00 target price on Dover in a report on Friday, October 24th. Finally, Barclays lifted their price target on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.27.

Dover Price Performance

Dover stock opened at $183.07 on Friday. The business’s 50 day simple moving average is $172.59 and its 200 day simple moving average is $177.81. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.40 and a beta of 1.29. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion for the quarter. Sell-side analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.1%. Dover’s dividend payout ratio is 12.79%.

Dover Profile

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.