SVB Wealth LLC Has $3.12 Million Stock Holdings in Dover Co. (NYSE:DOV)

SVB Wealth LLC trimmed its stake in Dover Co. (NYSE:DOV) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,586 shares of the industrial products company’s stock after selling 200 shares during the quarter. SVB Wealth LLC’s holdings in Dover were worth $3,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. BSW Wealth Partners grew its stake in Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after purchasing an additional 59 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Dover by 2.6% during the 1st quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Dover by 5.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 62 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Dover by 1.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares during the period. Finally, CWM LLC boosted its stake in shares of Dover by 2.7% during the 1st 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

NYSE DOV traded up $1.24 during midday trading on Monday, hitting $186.47. The company had a trading volume of 930,955 shares, compared to its average volume of 1,017,339. The company has a market capitalization of $25.63 billion, a PE ratio of 17.91, a P/E/G ratio of 2.24 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $181.49 and a 200-day moving average price of $172.86. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31.

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

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.51 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.09%. Dover’s dividend payout ratio is presently 19.60%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DOV. Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday. Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird reiterated an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Barclays boosted their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $192.63.

About Dover

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.