Wealthfront Advisers LLC Buys 3,418 Shares of Dover Corporation $DOV

Wealthfront Advisers LLC increased its stake in Dover Corporation (NYSE:DOV) by 16.1% during the second quarter, Holdings Channel.com reports. The fund owned 24,613 shares of the industrial products company’s stock after buying an additional 3,418 shares during the period. Wealthfront Advisers LLC’s holdings in Dover were worth $4,510,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock valued at $2,870,986,000 after purchasing an additional 106,679 shares during the last quarter. Nuveen LLC acquired a new position in Dover in the first quarter valued at $526,081,000. Invesco Ltd. boosted its position in Dover by 7.9% during the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after acquiring an additional 93,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Dover by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock worth $172,759,000 after acquiring an additional 19,387 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dover by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock worth $147,680,000 after acquiring an additional 12,518 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.0%

Dover stock opened at $179.70 on Wednesday. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26. The firm’s fifty day moving average price is $172.15 and its two-hundred day moving average price is $176.32. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its 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 net margin of 28.37% and a return on equity of 17.62%. On average, equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.2%. This is an increase from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio is currently 12.79%.

Analysts Set New Price Targets

Several equities research analysts recently commented on DOV shares. Citigroup restated a “buy” rating and set a $226.00 target price (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays increased their price target on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Robert W. Baird set a $235.00 price objective on shares of Dover in a research note on Friday. Oppenheimer dropped their target price on shares of Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $211.55.

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.