Northwestern Mutual Wealth Management Co. Raises Stock Position in Dover Corporation $DOV

Northwestern Mutual Wealth Management Co. grew its holdings in Dover Corporation (NYSE:DOV) by 69.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,922 shares of the industrial products company’s stock after acquiring an additional 6,964 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Dover were worth $3,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. AdvisorShares Investments LLC purchased a new position in Dover in the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Truvestments Capital LLC grew its stake in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 171 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in Dover in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE:DOV opened at $190.08 on Thursday. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.44 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The business has a 50 day simple moving average of $175.49 and a 200-day simple moving average of $178.41. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%. Equities analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 28th. Dover’s dividend payout ratio (DPR) is 12.79%.

Analyst Upgrades and Downgrades

DOV has been the subject of several research reports. Robert W. Baird set a $235.00 price objective on shares of Dover in a report on Friday, October 24th. Oppenheimer increased their price target on Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. BNP Paribas initiated coverage on Dover in a research note on Thursday. They issued a “neutral” rating on the stock. UBS Group set a $200.00 target price on Dover in a research report on Friday, October 24th. Finally, Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $212.27.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.