Wealth Enhancement Advisory Services LLC Grows Stake in Dover Corporation $DOV

Wealth Enhancement Advisory Services LLC grew its position in Dover Corporation (NYSE:DOV) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,470 shares of the industrial products company’s stock after buying an additional 5,514 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Dover were worth $8,442,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in Dover in the third quarter worth about $25,000. Caldwell Trust Co purchased a new stake in shares of Dover in the 2nd quarter worth approximately $31,000. Westside Investment Management Inc. boosted its stake in shares of Dover by 100.0% during the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Davis Capital Management purchased a new position in Dover during the third quarter valued at approximately $44,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Dover by 371.4% during the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the transaction, the senior vice president directly owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the sale, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 82,497 shares of company stock valued at $19,196,277 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Dover Price Performance

Shares of DOV stock opened at $206.78 on Friday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $237.54. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.61 and a beta of 1.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The stock’s 50-day simple moving average is $216.71 and its 200-day simple moving average is $194.71.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $2.20 EPS. As a group, equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 27th. Dover’s payout ratio is presently 26.20%.

Analyst Ratings Changes

DOV has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Robert W. Baird set a $255.00 price objective on Dover in a research report on Friday, January 30th. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $210.00 to $230.00 in a research report on Tuesday, March 17th. Finally, Oppenheimer lifted their price objective on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.54.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.