Wedmont Private Capital Has $315,000 Position in Dover Co. (NYSE:DOV)

Wedmont Private Capital raised its stake in shares of Dover Co. (NYSE:DOV) by 4.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,778 shares of the industrial products company’s stock after purchasing an additional 68 shares during the quarter. Wedmont Private Capital’s holdings in Dover were worth $315,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DOV. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at approximately $175,275,000. Adage Capital Partners GP L.L.C. grew its position in shares of Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares during the period. Wellington Management Group LLP grew its position in shares of Dover by 2,173.8% in the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares during the period. Franklin Resources Inc. grew its position in shares of Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of Dover by 469.4% in the 4th quarter. Teacher Retirement System of Texas now owns 252,768 shares of the industrial products company’s stock valued at $38,878,000 after purchasing an additional 208,378 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 0.4 %

Shares of Dover stock opened at $182.50 on Friday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $188.64. The stock has a market cap of $25.08 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.27 and a beta of 1.24. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $180.02 and its 200-day moving average is $167.25.

Dover (NYSE:DOV) last announced 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 company 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 business posted $1.94 EPS. The business’s revenue was up .7% compared to the same quarter last year. Equities research analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Analyst Ratings Changes

DOV has been the subject of a number of recent research reports. Robert W. Baird upped their price target on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Mizuho upped their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Barclays upped their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

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.