Brighton Jones LLC Has $848,000 Stake in Dover Corporation $DOV

Brighton Jones LLC boosted its holdings in shares of Dover Corporation (NYSE:DOV) by 54.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,630 shares of the industrial products company’s stock after purchasing an additional 1,626 shares during the period. Brighton Jones LLC’s holdings in Dover were worth $848,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock valued at $2,870,986,000 after buying an additional 106,679 shares during the last quarter. Nuveen LLC bought a new position in Dover in the 1st quarter valued at $526,081,000. Invesco Ltd. boosted its position in Dover by 7.9% in the 1st quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after buying an additional 93,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Dover by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock valued at $172,759,000 after buying an additional 19,387 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Dover by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock valued at $147,680,000 after buying an additional 12,518 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. UBS Group set a $200.00 price objective on Dover in a research report on Friday. Citigroup restated a “buy” rating and issued a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. Barclays raised their price target on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Oppenheimer reduced their price target on Dover from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Royal Bank Of Canada raised their price target on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Stock Performance

DOV stock opened at $179.70 on Wednesday. The business’s 50-day moving average price is $172.15 and its two-hundred day moving average price is $176.32. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market cap of $24.65 billion, a PE ratio of 11.05, a P/E/G ratio of 1.38 and a beta of 1.26. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion for the quarter. As a group, research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 12.79%.

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.