Transcendent Capital Group LLC Buys 156 Shares of Dover Co. (NYSE:DOV)

Transcendent Capital Group LLC grew its stake in Dover Co. (NYSE:DOV) by 208.0% during the first quarter, Holdings Channel.com reports. The fund owned 231 shares of the industrial products company’s stock after purchasing an additional 156 shares during the quarter. Transcendent Capital Group LLC’s holdings in Dover were worth $41,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DOV. LRI Investments LLC bought a new position in Dover in the 1st quarter worth about $28,000. AdvisorNet Financial Inc boosted its stake in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares in the last quarter. Life Planning Partners Inc bought a new position in shares of Dover during the fourth quarter valued at approximately $35,000. Northwest Financial Advisors bought a new position in shares of Dover during the fourth quarter valued at approximately $36,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 120 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DOV. Wells Fargo & Company increased their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Oppenheimer raised their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Citigroup raised their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.63.

Dover Stock Performance

Shares of NYSE DOV traded up $1.24 during midday trading on Monday, reaching $186.47. The company had a trading volume of 948,144 shares, compared to its average volume of 1,017,339. The business’s 50-day simple moving average is $181.49 and its 200 day simple moving average is $172.86. The stock has a market cap of $25.63 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.24 and a beta of 1.22. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the company posted $2.05 earnings per share. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts forecast that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

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.