Wealthcare Advisory Partners LLC Invests $203,000 in Dover Co. (NYSE:DOV)

Wealthcare Advisory Partners LLC acquired a new stake in Dover Co. (NYSE:DOV) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,158 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its stake in shares of Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 5,500 shares in the last quarter. Westpac Banking Corp boosted its position in Dover by 1,332.8% in the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock valued at $4,594,000 after buying an additional 22,777 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Dover by 5.8% during the first quarter. Rhumbline Advisers now owns 274,688 shares of the industrial products company’s stock worth $48,257,000 after buying an additional 14,996 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after acquiring an additional 444 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Dover by 3.7% during the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company’s stock valued at $28,949,000 after acquiring an additional 5,469 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on DOV shares. Citigroup cut their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Barclays lifted their target price on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Dover in a research report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target for the company. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.58.

Dover Stock Down 1.4%

Dover stock opened at $176.27 on Monday. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The firm’s 50-day simple moving average is $173.47 and its 200 day simple moving average is $185.09. The stock has a market cap of $24.17 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The firm 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 business earned $1.95 EPS. Research analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, May 30th. Dover’s payout ratio is 12.41%.

Dover Company 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.