Dover Corporation $DOV Stake Boosted by Golden State Wealth Management LLC

Golden State Wealth Management LLC lifted its stake in Dover Corporation (NYSE:DOV) by 20.9% during the second quarter, HoldingsChannel reports. The fund owned 2,401 shares of the industrial products company’s stock after purchasing an additional 415 shares during the quarter. Golden State Wealth Management LLC’s holdings in Dover were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DOV. Vanguard Group Inc. increased its position in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock worth $2,870,986,000 after purchasing an additional 106,679 shares during the last quarter. Nuveen LLC acquired a new position in Dover in the first quarter worth approximately $526,081,000. Invesco Ltd. increased its holdings in Dover by 7.9% in the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock worth $223,586,000 after buying an additional 93,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Dover by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock valued at $172,759,000 after acquiring an additional 19,387 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Dover by 1.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 840,621 shares of the industrial products company’s stock valued at $147,680,000 after acquiring an additional 12,518 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the topic of a number of recent research reports. Citigroup restated a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Wells Fargo & Company raised their target price on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Royal Bank Of Canada upped their price target on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. UBS Group set a $200.00 price objective on Dover in a research note on Friday, October 24th. Finally, Oppenheimer reduced their target price on Dover from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $211.55.

Dover Price Performance

Shares of NYSE:DOV opened at $178.50 on Friday. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.40 and a beta of 1.29. The business has a 50 day moving average price of $171.96 and a 200 day moving average price of $177.07. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31.

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

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 28th. Dover’s dividend payout ratio (DPR) is currently 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.