Wealthfront Advisers LLC Decreases Stock Holdings in Dover Corporation (NYSE:DOV)

Wealthfront Advisers LLC decreased its position in Dover Corporation (NYSE:DOV) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,195 shares of the industrial products company’s stock after selling 566 shares during the quarter. Wealthfront Advisers LLC’s holdings in Dover were worth $3,724,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. North Capital Inc. purchased a new position in Dover during the first quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC bought a new stake in shares of Dover in the 4th quarter worth approximately $43,000. Ameriflex Group Inc. acquired a new stake in shares of Dover during the fourth quarter valued at approximately $69,000. Finally, Quarry LP raised its holdings in shares of Dover by 257.0% during the fourth quarter. Quarry LP now owns 407 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 293 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on DOV shares. Citigroup reissued a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a report on Monday. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective on the stock. Robert W. Baird cut their price target on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Barclays lifted their price target on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $208.58.

Dover Trading Up 1.5%

Shares of DOV stock opened at $190.57 on Friday. The business’s 50 day moving average is $182.06 and its two-hundred day moving average is $183.16. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a market capitalization of $26.13 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 earnings per share. Equities analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s payout ratio is currently 12.41%.

About Dover

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.