Focus Partners Wealth Raises Stock Holdings in Dover Co. (NYSE:DOV)

Focus Partners Wealth boosted its holdings in Dover Co. (NYSE:DOV) by 10.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,792 shares of the industrial products company’s stock after acquiring an additional 629 shares during the period. Focus Partners Wealth’s holdings in Dover were worth $1,415,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wolverine Asset Management LLC raised its position in 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 raised its holdings in Dover by 1,332.8% in the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock worth $4,594,000 after purchasing an additional 22,777 shares during the period. Assenagon Asset Management S.A. raised its holdings in Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. Commonwealth Equity Services LLC raised its holdings in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock worth $5,183,000 after purchasing an additional 444 shares during the period. Finally, Bank of Montreal Can increased its stake 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 buying an additional 5,469 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.2%

Shares of NYSE DOV opened at $186.64 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market cap of $25.59 billion, a P/E ratio of 9.60, a PEG ratio of 2.06 and a beta of 1.28. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a 50-day simple moving average of $171.82 and a two-hundred day simple moving average of $188.13.

Dover (NYSE:DOV) last announced its quarterly earnings data 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. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. Research analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is presently 12.41%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Robert W. Baird cut 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. JPMorgan Chase & Co. raised their price objective on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.17.

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.