Earnest Partners LLC Increases Holdings in Dover Co. (NYSE:DOV)

Earnest Partners LLC raised its stake in shares of Dover Co. (NYSE:DOV) by 31.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 397,145 shares of the industrial products company’s stock after buying an additional 95,056 shares during the quarter. Earnest Partners LLC owned about 0.29% of Dover worth $70,370,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after buying an additional 492,577 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Dover by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after purchasing an additional 140,089 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after purchasing an additional 414,481 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Dover by 15.9% in the 4th quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after purchasing an additional 157,614 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of Dover stock traded up $1.24 during trading hours on Monday, hitting $186.47. The company’s stock had a trading volume of 930,955 shares, compared to its average volume of 1,017,339. The company has a market cap of $25.63 billion, a PE ratio of 17.91, a PEG ratio of 2.24 and a beta of 1.22. The business has a 50 day moving average price of $181.51 and a two-hundred day moving average price of $173.13. Dover Co. has a 12-month low of $127.25 and a 12-month 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.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Dover’s revenue was up 3.7% compared to the same quarter last year. Analysts expect that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced 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 of this dividend was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a yield of 1.09%. Dover’s dividend payout ratio is currently 19.60%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DOV shares. Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada lifted their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday. Barclays lifted their price objective on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price objective on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Oppenheimer lifted their price objective on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

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.