Wealthfront Advisers LLC Acquires 3,418 Shares of Dover Corporation $DOV

Wealthfront Advisers LLC raised its holdings in Dover Corporation (NYSE:DOV) by 16.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,613 shares of the industrial products company’s stock after purchasing an additional 3,418 shares during the period. Wealthfront Advisers LLC’s holdings in Dover were worth $4,510,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. North Capital Inc. acquired a new stake in Dover during the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dover during the 1st quarter valued at $31,000. Harbour Investments Inc. grew its holdings in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares in the last quarter. Truvestments Capital LLC raised its stake in Dover by 1,005.9% in the first 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 in the last quarter. Finally, Investment Research & Advisory Group Inc. bought a new stake in Dover during the second quarter worth about $33,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on DOV. Royal Bank Of Canada raised their target price on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday. Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group set a $200.00 price objective on shares of Dover in a research report on Friday. Robert W. Baird set a $235.00 target price on Dover in a report on Friday. Finally, Barclays boosted their price target on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Stock Performance

Shares of DOV stock opened at $179.70 on Wednesday. The firm has a market capitalization of $24.65 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.38 and a beta of 1.26. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $172.15 and its 200-day moving average price is $176.32. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The business had revenue of $1.78 billion during the quarter. Equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 29th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

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.