Bridgefront Capital LLC Grows Holdings in Dover Co. (NYSE:DOV)

Bridgefront Capital LLC lifted its position in shares of Dover Co. (NYSE:DOV) by 18.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,584 shares of the industrial products company’s stock after purchasing an additional 398 shares during the period. Bridgefront Capital LLC’s holdings in Dover were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Financial Life Planners purchased a new position in Dover during the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new stake in Dover in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC increased its holdings in Dover by 79.1% in 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 in the last quarter. Kieckhefer Group LLC acquired a new position in Dover during the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new position in Dover during the fourth quarter valued at $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Dover stock opened at $170.90 on Wednesday. The firm has a 50 day simple moving average of $172.81 and a 200-day simple moving average of $188.67. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price target for the company. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $176.00 price target on shares of Dover in a research report on Friday, April 25th. Robert W. Baird decreased their price objective on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Citigroup dropped their target price on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $206.33.

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.