Golden State Wealth Management LLC Grows Position in Dover Corporation (NYSE:DOV)

Golden State Wealth Management LLC lifted its holdings in Dover Corporation (NYSE:DOV) by 707.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,986 shares of the industrial products company’s stock after buying an additional 1,740 shares during the period. Golden State Wealth Management LLC’s holdings in Dover were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Vanguard Group Inc. lifted its stake in Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after purchasing an additional 74,541 shares during the last quarter. FMR LLC lifted its position in Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after buying an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after buying an additional 524,092 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Dover by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock worth $323,896,000 after buying an additional 245,535 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $187.23 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. The firm has a market cap of $25.67 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.81 and a beta of 1.26. The firm’s 50 day moving average price is $179.00 and its 200-day moving average price is $183.15. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. As a group, equities research analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.515 per share. The ex-dividend date was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover’s dividend payout ratio is presently 12.41%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DOV. Citigroup cut their target price on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Morgan Stanley assumed coverage on shares of Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price objective for the company. Mizuho lifted their target price on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Barclays raised their price target on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.50.

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.