RWA Wealth Partners LLC Buys 2,900 Shares of Dover Corporation $DOV

RWA Wealth Partners LLC grew its position in shares of Dover Corporation (NYSE:DOV) by 91.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,085 shares of the industrial products company’s stock after acquiring an additional 2,900 shares during the quarter. RWA Wealth Partners LLC’s holdings in Dover were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Machina Capital S.A.S. increased its holdings in Dover by 38.8% during the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after buying an additional 2,452 shares during the last quarter. Generali Asset Management SPA SGR boosted its stake in shares of Dover by 103.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after acquiring an additional 8,145 shares during the last quarter. Advisory Resource Group grew its position in shares of Dover by 7.7% during the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock valued at $5,264,000 after acquiring an additional 2,047 shares during the period. SG Americas Securities LLC increased its stake in shares of Dover by 1,644.9% in the 3rd quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after purchasing an additional 25,216 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Dover by 17.3% in the 3rd quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock worth $7,224,000 after purchasing an additional 6,399 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.3%

Shares of DOV opened at $227.30 on Friday. The business’s 50 day moving average is $211.53 and its 200 day moving average is $189.75. 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 Corporation has a 12-month low of $143.04 and a 12-month high of $237.54. The company has a market capitalization of $30.66 billion, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 EPS. Research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Insider Buying and Selling at Dover

In other news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the transaction, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the sale, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 85,127 shares of company stock worth $19,698,081. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on DOV. Citigroup reissued a “buy” rating on shares of Dover in a report on Monday, January 12th. UBS Group set a $256.00 price objective on Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. Royal Bank Of Canada boosted their price objective on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Oppenheimer increased their target price on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Morgan Stanley set a $210.00 price target on shares of Dover in a report on Wednesday, February 4th. Seven investment 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, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Dover 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.