Dover Co. (NYSE:DOV) Shares Bought by BSW Wealth Partners

Posted by on Sep 12th, 2023

BSW Wealth Partners raised its stake in Dover Co. (NYSE:DOV – Free Report) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,611 shares of the industrial products company’s stock after buying an additional 626 shares during the quarter. BSW Wealth Partners’ holdings in Dover were worth $853,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Dover by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock valued at $2,650,899,000 after buying an additional 224,091 shares during the last quarter. Bank of America Corp DE lifted its position in Dover by 0.9% in the fourth quarter. Bank of America Corp DE now owns 3,786,001 shares of the industrial products company’s stock valued at $512,662,000 after buying an additional 33,496 shares during the last quarter. Macquarie Group Ltd. lifted its position in Dover by 1.9% in the second quarter. Macquarie Group Ltd. now owns 3,314,537 shares of the industrial products company’s stock valued at $402,119,000 after buying an additional 61,298 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Dover by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,177,064 shares of the industrial products company’s stock worth $330,785,000 after purchasing an additional 274,713 shares during the period. Finally, Morgan Stanley increased its stake in Dover by 34.3% during the fourth quarter. Morgan Stanley now owns 2,134,157 shares of the industrial products company’s stock worth $288,986,000 after purchasing an additional 544,866 shares during the period. Institutional investors and hedge funds own 83.97% of the company’s stock.

Dover Price Performance

DOV stock opened at $140.22 on Tuesday. The company has a market capitalization of $19.61 billion, a P/E ratio of 19.42, a PEG ratio of 1.38 and a beta of 1.33. Dover Co. has a twelve month low of $114.49 and a twelve month high of $160.66. The business has a 50 day simple moving average of $145.15 and a 200-day simple moving average of $144.36. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.64.

Dover (NYSE:DOV – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $2.05 earnings per share for the quarter, missing the consensus estimate of $2.21 by ($0.16). The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.20 billion. Dover had a net margin of 12.04% and a return on equity of 27.33%. Dover’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.14 earnings per share. As a group, equities analysts anticipate that Dover Co. will post 8.89 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.45%. Dover’s dividend payout ratio (DPR) is currently 28.25%.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 4,631 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $142.00, for a total transaction of $657,602.00. Following the completion of the sale, the chief financial officer now directly owns 49,938 shares of the company’s stock, valued at $7,091,196. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DOV shares. StockNews.com started coverage on shares of Dover in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Wells Fargo & Company cut their price target on shares of Dover from $155.00 to $152.00 in a research note on Monday, July 10th. Finally, Robert W. Baird boosted their price target on shares of Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $162.38.

View Our Latest Analysis on DOV

Dover Company Profile

(Free Report)

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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