Dover Corporation $DOV Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Dover Corporation (NYSE:DOV) by 115.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,618 shares of the industrial products company’s stock after purchasing an additional 17,979 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Dover were worth $6,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC lifted its position in Dover by 707.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company’s stock worth $349,000 after acquiring an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Dover by 10.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company’s stock valued at $2,227,000 after purchasing an additional 1,160 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Dover by 45.4% during the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 187 shares in the last quarter. Heartland Bank & Trust Co purchased a new position in shares of Dover in the first quarter valued at $739,000. Finally, Hsbc Holdings PLC grew its holdings in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after purchasing an additional 268,931 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. Citigroup reiterated a “buy” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Dover in a report on Monday, July 14th. Robert W. Baird boosted their price target on Dover from $219.00 to $234.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Mizuho increased their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Royal Bank Of Canada raised their price objective on Dover from $203.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upped their target price on Dover from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $213.92.

Dover Stock Performance

Shares of DOV stock opened at $168.93 on Wednesday. The company has a market cap of $23.17 billion, a P/E ratio of 10.19, a PEG ratio of 1.36 and a beta of 1.27. The business has a 50 day moving average of $178.94 and a two-hundred day moving average of $177.23. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.36 earnings per share. Dover has set its FY 2025 guidance at 9.350-9.550 EPS. As a group, analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Dover’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. Dover’s dividend payout ratio is 12.55%.

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.