NewEdge Advisors LLC Boosts Stock Position in Dover Co. (NYSE:DOV)

NewEdge Advisors LLC lifted its position in shares of Dover Co. (NYSE:DOV) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,251 shares of the industrial products company’s stock after buying an additional 14,128 shares during the period. NewEdge Advisors LLC owned about 0.15% of Dover worth $32,097,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Dover in the 4th quarter worth approximately $29,000. Orion Capital Management LLC bought a new stake in Dover in the first quarter worth $35,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Dover during the first quarter valued at about $39,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Dover by 29,600.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 297 shares of the industrial products company’s stock valued at $45,000 after buying an additional 296 shares during the last quarter. Finally, Fairfield Bush & CO. purchased a new position in shares of Dover in the first quarter worth about $48,000. Institutional investors own 83.97% of the company’s stock.

Dover Stock Up 0.0 %

Shares of NYSE:DOV traded up $0.06 during trading on Thursday, hitting $148.30. The stock had a trading volume of 878,193 shares, compared to its average volume of 846,698. The company has a market capitalization of $20.74 billion, a PE ratio of 20.53, a PEG ratio of 1.41 and a beta of 1.34. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average is $145.09 and its 200 day moving average is $144.90. Dover Co. has a 12 month low of $114.49 and a 12 month high of $160.66.

Dover (NYSE:DOV) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.21 by ($0.16). The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Dover had a net margin of 12.04% and a return on equity of 27.33%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.14 EPS. Analysts anticipate that Dover Co. will post 8.89 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, August 30th. Dover’s dividend payout ratio (DPR) is presently 27.98%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several recent research reports. StockNews.com began coverage on Dover in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Robert W. Baird lifted their target price on shares of Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 25th. Finally, Wells Fargo & Company dropped their price target on shares of Dover from $155.00 to $152.00 in a research report on Monday, July 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $162.38.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 17,769 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $139.03, for a total transaction of $2,470,424.07. Following the completion of the transaction, the chief financial officer now owns 54,569 shares of the company’s stock, valued at approximately $7,586,728.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.