JPMorgan Investment Management, I has recently announced that it has increased stake in Dover Corporation (NYSE:DOV) by 9.33%. After grabbing 11.44 million shares, the institutional investor is now in possession of 0.98 million shares of the Industrials Company. The new investment brought the stake of investor firm to 8.18% having worth around $1.67 billion. Moreover, Macquarie Investment Management B increased its share by 99458.0 to have a control over 2.96 million shares. And Geode Capital Management LLC raised its holdings to 51836.0 shares by acquiring 2.89 million shares or 2.07% of the stake.
Dover Corporation (DOV) concluded trading on 05/24/23 at a closing price of $135.64, with 1.02 million shares of worth about $138.6 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.33% during that period and on Wednesday the price saw a loss of about -2.64%. Currently the company’s common shares owned by public are about 139.76M shares, out of which, 139.14M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the DOV stock and their offered price forecasts bring an average price target of $166.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $200.00 and could fall to a lowest price of $136.00. The stock’s current price level is 17.16% above of average price target set by the analysts, while a rise to estimated low would result in gain of 0.26% for the stock. However, touching the estimated high of $200.00 would mean a gain of 32.18% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 83 times over the past 12 months. They bought 186,585 shares in 33 of the transactions. In 50 selling transactions, insiders dumped 154,167 shares.
JPMorgan Equity Income Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Dover Corporation JPMorgan Equity Income Fund is currently holding 5.05 million shares of worth totaling $737.93 million. The company recently came buying 0.0 shares which brought its stake up to 3.61% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 16503.0 shares, after which its hold over company’s outstanding shares expand to 3.10%, leaving 4.34 million shares with the mutual fund that have a worth of about $634.33 million. Vanguard 500 Index Fund, after buying 3.28 million shares, have now control over 2.35% of the stake in the company. It holds 17424.0 shares of worth $479.25 million.
Dover Corporation (NYSE: DOV) started trading at $138.84, below -$0.48 from concluding price of the previous day. However, the stock later moved at a day high price of 138.84, or with a loss of -2.64%. Stock saw a price change of -3.01% in past 5 days and over the past one month there was a price change of -6.75%. Year-to-date (YTD), DOV shares are showing a performance of 0.17% which increased to 3.70% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $114.49 but also hit the highest price of $160.66 during that period. The average intraday trading volume for Dover Corporation shares is 860.57K. The stock is currently trading -4.34% below its 20-day simple moving average (SMA20), while that difference is down -5.60% for SMA50 and it goes to -1.96% lower than SMA200.
JPMorgan Investment Management, I acquired 11.44 million shares of Dover Corporation having value of about $1.67 billion. Data submitted at the U.S SEC by JPMorgan Investment Management, I revealed that the firm now holds 0.98 million shares in the company valued at close to $132475790.08, or have control over 9.33% stake in the company. Dover Corporation (NYSE: DOV) currently have 139.76M outstanding shares and institutions hold larger chunk of about 94.70% of that. Holding of mutual funds in the company is about 38.74% while other institutional holders and individual stake holders have control over 49.03% and 2.61% of the stake respectively.
The stock has a current market capitalization of $19.16B and its 3Y-monthly beta is at 1.35. PE ratio of stock for trailing 12 months is 18.49, while it has posted earnings per share of $7.33 in the same period. Its PEG reads 1.89 and has Quick Ratio of 0.80 while making debt-to-equity ratio of 0.78. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DOV, volatility over the week remained 2.01% while standing at 2.17% over the month.
Analysts are in expectations that Dover Corporation (DOV) stock would likely to be making an EPS of $2.21 in the current quarter, while forecast for next quarter EPS is $2.43 and it is $9.82 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.15 which is $2.32 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -4.10% while it is estimated to increase by 9.28% in next year. EPS is likely to shrink at an annualized rate of 9.78% for next 5-years, compared to annual growth of 11.00% made by the stock over the past 5-years.
Analysts at 22 brokerage firms have issued recommendations for the Dover Corporation (DOV)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 22 Wall Street analysts, 9 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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