WealthPLAN Partners LLC raised its holdings in Dover Corp (NYSE:DOV) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,860 shares of the industrial products company’s stock after acquiring an additional 5,415 shares during the quarter. WealthPLAN Partners LLC’s holdings in Dover were worth $2,147,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in DOV. Optimum Investment Advisors bought a new position in Dover in the first quarter valued at approximately $104,000. Tower Research Capital LLC TRC boosted its stake in Dover by 891.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after acquiring an additional 1,596 shares during the last quarter. Smithfield Trust Co. boosted its stake in Dover by 916.7% in the first quarter. Smithfield Trust Co. now owns 1,830 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 1,650 shares during the last quarter. Associated Banc Corp bought a new position in Dover in the fourth quarter valued at approximately $202,000. Finally, Sterling Capital Management LLC bought a new position in Dover in the fourth quarter valued at approximately $206,000. 85.69% of the stock is currently owned by hedge funds and other institutional investors.
DOV has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of Dover from an “overweight” rating to a “neutral” rating in a research note on Monday, March 26th. BMO Capital Markets reduced their price objective on shares of Dover from $118.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, April 30th. ValuEngine cut shares of Dover from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Morgan Stanley reduced their price objective on shares of Dover from $113.00 to $106.00 and set an “overweight” rating on the stock in a research note on Monday, April 30th. Finally, Barclays began coverage on shares of Dover in a research note on Thursday, February 15th. They issued an “overweight” rating and a $120.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $105.82.
Shares of NYSE DOV traded up $0.27 during midday trading on Thursday, reaching $78.06. 5,054 shares of the stock were exchanged, compared to its average volume of 1,793,340. The stock has a market cap of $12.22 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.26 and a beta of 1.29. Dover Corp has a 12 month low of $62.10 and a 12 month high of $88.11. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.68.
Dover (NYSE:DOV) last announced its quarterly earnings results on Friday, April 27th. The industrial products company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Dover had a net margin of 9.71% and a return on equity of 16.48%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.09 earnings per share. research analysts anticipate that Dover Corp will post 4.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, May 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.41%. Dover’s dividend payout ratio is 46.65%.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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