Dover Corporation $DOV Stock: Modera Wealth Management LLC Decreases Position

Modera Wealth Management LLC decreased its position in Dover Corporation (NYSE:DOV) by 3.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 84,683 shares of the industrial products company’s stock after selling 2,963 shares during the period. Modera Wealth Management LLC owned about 0.06% of Dover worth $15,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DOV. True North Advisors LLC boosted its position in shares of Dover by 2.9% in the 1st quarter. True North Advisors LLC now owns 1,610 shares of the industrial products company’s stock worth $336,000 after buying an additional 45 shares in the last quarter. North Dakota State Investment Board raised its position in Dover by 1.2% during the third quarter. North Dakota State Investment Board now owns 4,082 shares of the industrial products company’s stock worth $764,000 after acquiring an additional 50 shares during the last quarter. Nilsine Partners LLC lifted its holdings in shares of Dover by 2.7% in the second quarter. Nilsine Partners LLC now owns 1,967 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 52 shares in the last quarter. BOKF NA lifted its holdings in shares of Dover by 0.7% in the third quarter. BOKF NA now owns 8,133 shares of the industrial products company’s stock valued at $1,521,000 after purchasing an additional 54 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Dover by 1.1% in the third quarter. Quadrant Capital Group LLC now owns 5,547 shares of the industrial products company’s stock valued at $1,068,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the subject of a number of recent research reports. Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Citigroup upped their target price on Dover from $266.00 to $268.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $255.00 to $240.00 in a report on Friday, July 24th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Wolfe Research reissued an “outperform” rating and set a $262.00 price target on shares of Dover in a research report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.60.

Dover Price Performance

Dover stock opened at $207.66 on Friday. The stock has a market capitalization of $27.62 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.81 and a beta of 1.13. Dover Corporation has a 12-month low of $176.40 and a 12-month high of $237.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.37. The firm’s 50-day moving average is $193.97 and its two-hundred day moving average is $209.58.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.22 billion. Dover had a net margin of 13.60% and a return on equity of 18.68%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.62 earnings per share. Equities analysts predict that Dover Corporation will post 10.72 earnings per share for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a dividend of $0.5250 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio is currently 24.48%.

Dover Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.