Wellington Management Group LLP Buys 414,481 Shares of Dover Co. (NYSE:DOV)

Wellington Management Group LLP raised its holdings in Dover Co. (NYSE:DOV) by 50.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,231,606 shares of the industrial products company’s stock after purchasing an additional 414,481 shares during the period. Wellington Management Group LLP’s holdings in Dover were worth $189,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the period. Exchange Traded Concepts LLC bought a new position in Dover in the 4th quarter valued at $33,000. Life Planning Partners Inc bought a new position in Dover in the 4th quarter valued at $35,000. Orion Capital Management LLC bought a new position in Dover in the 3rd quarter valued at $32,000. Finally, Headinvest LLC bought a new position in Dover in the 3rd quarter valued at $32,000. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on DOV shares. Barclays increased their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Mizuho increased their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Stock Performance

Shares of DOV opened at $182.79 on Thursday. The stock’s 50-day simple moving average is $179.43 and its 200 day simple moving average is $166.57. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. Dover Co. has a 52-week low of $127.25 and a 52-week high of $188.64.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. Research analysts forecast that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.51 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.04 annualized dividend and a dividend yield of 1.12%. Dover’s payout ratio is currently 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.