Ascent Group LLC Buys New Position in Dover Co. (NYSE:DOV)

Ascent Group LLC purchased a new position in shares of Dover Co. (NYSE:DOV) in the first quarter, HoldingsChannel reports. The institutional investor purchased 10,219 shares of the industrial products company’s stock, valued at approximately $1,811,000.

Several other hedge funds also recently modified their holdings of the business. Franklin Resources Inc. grew its position in Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after buying an additional 492,577 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Dover by 10.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock valued at $219,778,000 after purchasing an additional 140,089 shares during the period. Wellington Management Group LLP lifted its position in Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after purchasing an additional 414,481 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in Dover by 15.9% during the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after buying an additional 157,614 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent research reports. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Oppenheimer increased their price target on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada increased their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Wells Fargo & Company boosted their price target on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.63.

Dover Price Performance

Shares of DOV traded up $1.24 on Monday, hitting $186.47. The company’s stock had a trading volume of 930,955 shares, compared to its average volume of 1,017,339. The company has a market capitalization of $25.63 billion, a PE ratio of 17.91, a PEG ratio of 2.24 and a beta of 1.22. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The company has a 50 day moving average price of $181.51 and a 200 day moving average price of $173.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, research analysts anticipate that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, May 31st. Dover’s payout ratio is presently 19.60%.

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.