Mission Wealth Management LP Raises Position in Dover Co. (NYSE:DOV)

Mission Wealth Management LP grew its position in Dover Co. (NYSE:DOV) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,144 shares of the industrial products company’s stock after buying an additional 136 shares during the period. Mission Wealth Management LP’s holdings in Dover were worth $1,443,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in Dover in the third quarter worth about $32,000. Headinvest LLC bought a new stake in shares of Dover in the third quarter worth approximately $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the fourth quarter worth approximately $33,000. AdvisorNet Financial Inc grew its stake in shares of Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 188 shares during the period. Finally, Life Planning Partners Inc bought a new stake in shares of Dover in the fourth quarter worth approximately $35,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE:DOV traded down $0.29 during trading hours on Friday, hitting $176.68. 798,447 shares of the stock traded hands, compared to its average volume of 941,286. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Dover Co. has a 1 year low of $127.25 and a 1 year high of $188.64. The company has a market cap of $24.28 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.15 and a beta of 1.22. The stock has a 50 day moving average price of $181.30 and a 200 day moving average price of $169.27.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Barclays boosted their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird boosted their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Mizuho boosted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Citigroup boosted their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $185.75.

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.