BridgePort Financial Solutions LLC Takes $370,000 Position in Dover Co. (NYSE:DOV)

BridgePort Financial Solutions LLC bought a new position in Dover Co. (NYSE:DOV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,884 shares of the industrial products company’s stock, valued at approximately $370,000.

Several other large investors also recently modified their holdings of DOV. Wolverine Asset Management LLC grew its position in shares of Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after buying an additional 5,500 shares during the last quarter. Westpac Banking Corp boosted its holdings in Dover by 1,332.8% in the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock valued at $4,594,000 after acquiring an additional 22,777 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Dover by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after purchasing an additional 444 shares during the period. Bank of Montreal Can raised its holdings in Dover by 3.7% in the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company’s stock worth $28,949,000 after purchasing an additional 5,469 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Dover by 4.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 253,376 shares of the industrial products company’s stock worth $47,533,000 after purchasing an additional 11,592 shares during the period. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

DOV opened at $177.79 on Tuesday. The firm has a market cap of $24.38 billion, a PE ratio of 9.14, a P/E/G ratio of 2.06 and a beta of 1.28. The stock has a 50-day moving average price of $171.79 and a 200-day moving average price of $187.48. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. 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 (NYSE:DOV) last issued 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 net margin of 32.95% and a return on equity of 21.03%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.16%. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Analyst Ratings Changes

A number of research firms recently issued reports on DOV. Barclays increased their price target on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Robert W. Baird lowered their price objective on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price 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.