Sagespring Wealth Partners LLC Has $511,000 Stock Position in Dover Corporation $DOV

Sagespring Wealth Partners LLC lifted its position in Dover Corporation (NYSE:DOV) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,787 shares of the industrial products company’s stock after buying an additional 192 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Dover were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DOV. North Capital Inc. acquired a new position in Dover during the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the 1st quarter valued at $31,000. Truvestments Capital LLC raised its stake in Dover by 1,005.9% during the 1st quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 171 shares during the last quarter. Investment Research & Advisory Group Inc. acquired a new position in Dover during the 2nd quarter valued at $33,000. Finally, Costello Asset Management INC acquired a new position in Dover during the 1st quarter valued at $35,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 2.2%

DOV opened at $166.23 on Friday. The firm’s 50-day simple moving average is $172.74 and its 200-day simple moving average is $175.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The firm has a market cap of $22.80 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.30 and a beta of 1.26.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $1.78 billion for the quarter. Equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 12.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DOV shares. Royal Bank Of Canada upped their target price on shares of Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Barclays cut their target price on shares of Dover from $193.00 to $190.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of Dover from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Wednesday, October 8th. Finally, Citigroup restated a “buy” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a research note on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.67.

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.