RWA Wealth Partners LLC Raises Stock Position in Dover Corporation $DOV

RWA Wealth Partners LLC lifted its stake in Dover Corporation (NYSE:DOV) by 91.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,085 shares of the industrial products company’s stock after purchasing an additional 2,900 shares during the period. RWA Wealth Partners LLC’s holdings in Dover were worth $1,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DOV. First Trust Advisors LP lifted its holdings in Dover by 717.4% in the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after buying an additional 1,506,288 shares during the period. Norges Bank bought a new position in shares of Dover in the 2nd quarter worth approximately $274,135,000. AQR Capital Management LLC raised its position in shares of Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after acquiring an additional 711,471 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Dover by 133.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after purchasing an additional 375,333 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Dover by 46.8% during the second quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock valued at $165,158,000 after purchasing an additional 287,362 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DOV shares. Barclays set a $206.00 price objective on Dover in a report on Monday, February 2nd. Morgan Stanley set a $210.00 price target on shares of Dover in a research note on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Insiders Place Their Bets

In other news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the transaction, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard J. Tobin sold 76,997 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 85,127 shares of company stock valued at $19,698,081. Corporate insiders own 1.30% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $227.30 on Friday. The company has a market capitalization of $30.66 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The company’s 50-day moving average is $211.53 and its 200 day moving average is $189.75.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio (DPR) is currently 26.20%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.