State of Wyoming Increases Stake in Dover Co. (NYSE:DOV)

State of Wyoming raised its holdings in shares of Dover Co. (NYSE:DOV) by 140.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,269 shares of the industrial products company’s stock after acquiring an additional 1,326 shares during the quarter. State of Wyoming’s holdings in Dover were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Toronto Dominion Bank lifted its position in Dover by 7.9% during the fourth quarter. Toronto Dominion Bank now owns 73,436 shares of the industrial products company’s stock valued at $13,777,000 after purchasing an additional 5,378 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Dover by 448.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 77,810 shares of the industrial products company’s stock valued at $14,597,000 after buying an additional 63,629 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Dover by 60.8% during the 4th quarter. Royal Bank of Canada now owns 357,162 shares of the industrial products company’s stock valued at $67,004,000 after acquiring an additional 135,049 shares during the period. Rafferty Asset Management LLC increased its holdings in Dover by 11.2% in the 4th quarter. Rafferty Asset Management LLC now owns 12,817 shares of the industrial products company’s stock worth $2,404,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Dover during the 4th quarter worth approximately $1,601,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Wells Fargo & Company increased their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price objective for the company. Finally, Mizuho set a $215.00 target price on Dover in a research report on Friday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.75.

Dover Price Performance

NYSE:DOV opened at $184.19 on Wednesday. The business’s 50-day moving average is $172.05 and its 200 day moving average is $188.07. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a market capitalization of $25.25 billion, a P/E ratio of 9.47, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

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 analysts’ consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. On average, equities research analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given 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 1.12%. Dover’s dividend payout ratio (DPR) is currently 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.