Rehmann Capital Advisory Group Has $1.53 Million Position in Dover Co. (NYSE:DOV)

Rehmann Capital Advisory Group raised its holdings in shares of Dover Co. (NYSE:DOV) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,126 shares of the industrial products company’s stock after purchasing an additional 197 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Dover were worth $1,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new stake in shares of Dover during the 4th quarter worth about $28,000. R Squared Ltd acquired a new stake in Dover during the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares during the period. Kieckhefer Group LLC acquired a new position in shares of Dover in the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Dover during the fourth quarter worth approximately $46,000. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on DOV shares. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $176.00 price target on shares of Dover in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Citigroup cut their target price on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.33.

Dover Price Performance

Shares of NYSE:DOV opened at $170.86 on Thursday. Dover Co. has a one year low of $143.04 and a one year high of $222.31. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 2.06 and a beta of 1.24. 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 firm has a 50 day simple moving average of $174.89 and a 200 day simple moving average of $189.30.

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

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 12.41%.

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.