Dynasty Wealth Management LLC Invests $440,000 in Dover Co. (NYSE:DOV)

Dynasty Wealth Management LLC acquired a new position in Dover Co. (NYSE:DOV) during the first quarter, HoldingsChannel reports. The institutional investor acquired 2,483 shares of the industrial products company’s stock, valued at approximately $440,000.

Other hedge funds also recently made changes to their positions in the company. BSW Wealth Partners raised its stake in Dover by 1.2% during the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after buying an additional 59 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Dover by 2.6% during the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after purchasing an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 62 shares during the period. Legacy Financial Advisors Inc. grew its holdings in Dover by 1.7% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 63 shares during the period. Finally, CWM LLC boosted its stake in shares of Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after acquiring an additional 65 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

DOV stock traded up $0.46 on Wednesday, reaching $184.97. The company had a trading volume of 545,869 shares, compared to its average volume of 1,013,170. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The company’s fifty day moving average is $181.48 and its 200 day moving average is $173.40. The company has a market cap of $25.43 billion, a P/E ratio of 17.72, a PEG ratio of 2.22 and a beta of 1.22.

Dover (NYSE:DOV) last issued 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. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $2.05 EPS. On average, research analysts forecast that Dover Co. will post 9.13 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.51 per share. The ex-dividend date was Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.10%. Dover’s dividend payout ratio is presently 19.60%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DOV shares. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Oppenheimer lifted their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Wells Fargo & Company boosted their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Mizuho boosted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Dover 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.