Ferguson Wellman Capital Management Inc. Makes New Investment in Dover Co. (NYSE:DOV)

Ferguson Wellman Capital Management Inc. bought a new position in shares of Dover Co. (NYSE:DOV) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,329 shares of the industrial products company’s stock, valued at approximately $233,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Dover by 350.8% during the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company’s stock worth $72,090,000 after buying an additional 319,319 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Dover by 16.6% during the first quarter. Handelsbanken Fonder AB now owns 58,467 shares of the industrial products company’s stock worth $10,271,000 after buying an additional 8,330 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Dover by 5,282.4% during the first quarter. SG Americas Securities LLC now owns 82,135 shares of the industrial products company’s stock worth $14,429,000 after buying an additional 80,609 shares during the last quarter. Avanza Fonder AB lifted its holdings in shares of Dover by 13.2% during the first quarter. Avanza Fonder AB now owns 14,200 shares of the industrial products company’s stock worth $2,542,000 after buying an additional 1,652 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Dover by 104.5% during the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company’s stock worth $563,000 after buying an additional 1,638 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Dover stock opened at $176.27 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a fifty day moving average price of $173.47 and a two-hundred day moving average price of $185.39. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The firm has a market capitalization of $24.17 billion, a P/E ratio of 9.06, a P/E/G ratio of 2.06 and a beta of 1.27.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.17%. Dover’s dividend payout ratio is currently 12.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DOV shares. Barclays upped their price target on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Robert W. Baird cut their price target on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.58.

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.