Dover Corporation $DOV Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Dover Corporation (NYSE:DOV) by 15.3% in the fourth quarter, HoldingsChannel reports. The firm owned 41,470 shares of the industrial products company’s stock after buying an additional 5,514 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dover were worth $8,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC boosted its stake in shares of Dover by 56.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,220 shares of the industrial products company’s stock worth $449,000 after buying an additional 800 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new stake in Dover during the fourth quarter worth $2,392,000. Bannerman Wealth Management Group LLC purchased a new position in Dover in the fourth quarter valued at $234,000. Aventura Private Wealth LLC purchased a new stake in shares of Dover during the 4th quarter worth about $57,000. Finally, Hilltop National Bank purchased a new position in shares of Dover in the 4th quarter valued at about $62,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on DOV. JPMorgan Chase & Co. boosted their price objective on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $210.00 to $230.00 in a report on Tuesday, March 17th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Citigroup reissued a “buy” rating on shares of Dover in a research note on Monday, January 12th. Finally, Royal Bank Of Canada raised their price target on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.54.

Insiders Place Their Bets

In other Dover news, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. This represents a 15.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 82,497 shares of company stock valued at $19,196,277. Insiders own 1.30% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $206.78 on Friday. The company has a market cap of $27.87 billion, a P/E ratio of 26.04, a P/E/G ratio of 1.61 and a beta of 1.27. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The company’s 50-day moving average price is $216.71 and its 200-day moving average price is $194.71. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the company earned $2.20 EPS. Dover’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.