Arkadios Wealth Advisors Makes New Investment in Dover Co. (NYSE:DOV)

Posted by on Mar 23rd, 2023

Arkadios Wealth Advisors bought a new position in shares of Dover Co. (NYSE:DOV – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,516 shares of the industrial products company’s stock, valued at approximately $205,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Dover by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock valued at $2,650,899,000 after purchasing an additional 224,091 shares during the last quarter. State Street Corp lifted its stake in Dover by 3.5% in the 3rd quarter. State Street Corp now owns 6,867,691 shares of the industrial products company’s stock valued at $800,635,000 after purchasing an additional 231,562 shares during the last quarter. Boston Partners raised its holdings in Dover by 3.9% in the 3rd quarter. Boston Partners now owns 4,530,080 shares of the industrial products company’s stock valued at $529,036,000 after acquiring an additional 171,924 shares during the period. Macquarie Group Ltd. raised its holdings in Dover by 2.0% in the 3rd quarter. Macquarie Group Ltd. now owns 3,379,487 shares of the industrial products company’s stock valued at $393,981,000 after acquiring an additional 64,950 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Dover by 27.7% in the 3rd quarter. Nuveen Asset Management LLC now owns 2,607,299 shares of the industrial products company’s stock valued at $303,959,000 after acquiring an additional 565,772 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 34,972 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $143.25, for a total transaction of $5,009,739.00. Following the completion of the transaction, the chief financial officer now directly owns 73,878 shares in the company, valued at $10,583,023.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com began coverage on shares of Dover in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Oppenheimer upped their target price on Dover from $167.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, March 10th. JPMorgan Chase & Co. increased their target price on Dover from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Mizuho increased their target price on Dover from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Finally, Morgan Stanley increased their target price on Dover from $144.00 to $152.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $159.75.

Dover Price Performance

Dover stock opened at $140.54 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $19.64 billion, a PE ratio of 18.92, a P/E/G ratio of 1.08 and a beta of 1.36. Dover Co. has a 12 month low of $114.49 and a 12 month high of $162.88. The stock has a 50-day moving average price of $148.41 and a two-hundred day moving average price of $137.32.

Dover (NYSE:DOV – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.01. Dover had a return on equity of 28.55% and a net margin of 12.52%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the company earned $1.78 earnings per share. The firm’s revenue was up 7.5% compared to the same quarter last year. Analysts expect that Dover Co. will post 9 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a dividend of $0.505 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.44%. Dover’s dividend payout ratio (DPR) is 27.19%.

Dover Profile

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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