BerganKDV Wealth Management LLC grew its position in Dover Co. (NYSE:DOV – Get Rating) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,829 shares of the industrial products company’s stock after purchasing an additional 2,019 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Dover were worth $4,209,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Dover during the fourth quarter worth $4,798,000. Commonwealth Equity Services LLC raised its position in shares of Dover by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 22,654 shares of the industrial products company’s stock worth $4,114,000 after acquiring an additional 1,186 shares during the period. CWM LLC acquired a new position in shares of Dover in the fourth quarter worth about $85,000. Xponance Inc. raised its position in shares of Dover by 23.4% in the fourth quarter. Xponance Inc. now owns 9,049 shares of the industrial products company’s stock worth $1,643,000 after acquiring an additional 1,718 shares during the period. Finally, FDx Advisors Inc. increased its stake in shares of Dover by 19.0% during the fourth quarter. FDx Advisors Inc. now owns 5,162 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 824 shares in the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on DOV shares. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Mizuho dropped their price objective on shares of Dover from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Morgan Stanley dropped their price objective on shares of Dover from $161.00 to $149.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 31st. The Goldman Sachs Group dropped their price objective on shares of Dover from $176.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Dover from $135.00 to $132.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $161.17.
Dover Trading Up 1.2 %
Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the firm posted $2.06 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Dover Co. will post 8.5 earnings per share for the current fiscal year.
Dover Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a $0.505 dividend. This is a boost from Dover’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, August 30th. This represents a $2.02 annualized dividend and a dividend yield of 1.51%. Dover’s dividend payout ratio (DPR) is 25.45%.
Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The 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.
- Get a free copy of the StockNews.com research report on Dover (DOV)
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