HB Wealth Management LLC grew its holdings in shares of Dover Co. (NYSE:DOV – Get Rating) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,553 shares of the industrial products company’s stock after buying an additional 215 shares during the quarter. HB Wealth Management LLC’s holdings in Dover were worth $617,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. MV Capital Management Inc. grew its holdings in Dover by 308.8% during the 3rd quarter. MV Capital Management Inc. now owns 233 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Ellevest Inc. grew its holdings in Dover by 47.0% during the 3rd quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 78 shares during the last quarter. Fairfield Bush & CO. bought a new position in Dover during the 1st quarter valued at about $48,000. Guardian Wealth Advisors LLC bought a new position in Dover during the 3rd quarter valued at about $50,000. Finally, Quantbot Technologies LP bought a new position in Dover during the 1st quarter valued at about $55,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on DOV. Morgan Stanley upped their target price on shares of Dover from $144.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Dover from $137.00 to $141.00 in a research note on Monday, December 5th. Wells Fargo & Company increased their target price on shares of Dover from $149.00 to $157.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Mizuho increased their target price on shares of Dover from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Finally, The Goldman Sachs Group raised their price target on shares of Dover from $139.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, December 15th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.
Insider Activity at Dover
Dover Trading Up 2.6 %
NYSE DOV opened at $151.94 on Friday. The firm has a 50 day moving average of $148.89 and a two-hundred day moving average of $138.05. Dover Co. has a 52 week low of $114.49 and a 52 week high of $162.88. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $21.24 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36.
Dover (NYSE:DOV – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.15 by $0.01. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Dover had a net margin of 12.52% and a return on equity of 28.55%. Dover’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. As a group, research analysts expect that Dover Co. will post 9 EPS for the current fiscal year.
Dover Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a $0.505 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $2.02 dividend on an annualized basis and a yield of 1.33%. Dover’s payout ratio is 27.19%.
Dover Company Profile
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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