State of Wyoming Raises Position in Dover Co. (NYSE:DOV)

State of Wyoming lifted its stake in Dover Co. (NYSE:DOV) by 140.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,269 shares of the industrial products company’s stock after purchasing an additional 1,326 shares during the quarter. State of Wyoming’s holdings in Dover were worth $426,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DOV. Ecofi Investissements SA lifted its stake in Dover by 1.1% in the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock worth $765,000 after purchasing an additional 50 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after buying an additional 52 shares during the period. Trust Point Inc. lifted its stake in shares of Dover by 3.1% during the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 59 shares during the last quarter. Lido Advisors LLC boosted its holdings in Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company’s stock valued at $923,000 after acquiring an additional 69 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Dover by 3.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock valued at $450,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 1.2%

Dover stock opened at $184.19 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $25.25 billion, a P/E ratio of 9.47, a P/E/G ratio of 2.06 and a beta of 1.28. The business has a fifty day moving average of $172.05 and a two-hundred day moving average of $188.07. Dover Co. has a twelve month low of $143.04 and a twelve month 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, beating the consensus estimate of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 earnings per share. On average, analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s payout ratio is currently 12.41%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DOV. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They issued an “equal weight” rating and a $185.00 target price on the stock. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Robert W. Baird lowered their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company upped their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $207.75.

Dover Company 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.