RWA Wealth Partners LLC Takes Position in Dover Co. (NYSE:DOV)

RWA Wealth Partners LLC acquired a new stake in Dover Co. (NYSE:DOV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,286 shares of the industrial products company’s stock, valued at approximately $659,000.

Several other large investors also recently modified their holdings of DOV. Adage Capital Partners GP L.L.C. increased its position in Dover by 160.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after acquiring an additional 879,533 shares during the period. Wellington Management Group LLP increased its position in Dover by 2,173.8% during the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after acquiring an additional 781,189 shares during the period. FMR LLC increased its position in Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after acquiring an additional 226,646 shares during the period. Nordea Investment Management AB increased its position in Dover by 53.1% during the third quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock worth $74,415,000 after acquiring an additional 183,529 shares during the period. Finally, Retirement Systems of Alabama increased its position in Dover by 480.7% during the third quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock worth $25,748,000 after acquiring an additional 152,778 shares during the period. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOV has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Royal Bank of Canada increased their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Barclays increased their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Robert W. Baird increased their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.13.

Dover Trading Down 0.5 %

DOV opened at $171.42 on Thursday. The company’s 50 day moving average is $171.04 and its 200-day moving average is $153.84. Dover Co. has a 1-year low of $127.25 and a 1-year high of $178.28. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The company has a market cap of $23.55 billion, a P/E ratio of 22.80, a PEG ratio of 1.79 and a beta of 1.27.

Dover (NYSE:DOV) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $2.16 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that Dover Co. will post 9.07 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.19%. Dover’s dividend payout ratio is presently 27.13%.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by insiders.

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.