Fifth Third Wealth Advisors LLC Takes Position in Dover Co. (NYSE:DOV)

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Dover Co. (NYSE:DOV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,704 shares of the industrial products company’s stock, valued at approximately $307,000.

Several other institutional investors have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in Dover in the 1st quarter worth approximately $27,000. Northwest Financial Advisors acquired a new stake in Dover in the 4th quarter worth approximately $36,000. Transcendent Capital Group LLC lifted its holdings in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in Dover by 93.0% in the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in Dover by 620.5% in the 1st quarter. ORG Partners LLC now owns 281 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 242 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV traded up $2.19 on Wednesday, reaching $182.26. 459,547 shares of the stock traded hands, compared to its average volume of 988,212. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 2.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The stock’s 50-day moving average price is $180.22 and its 200-day moving average price is $176.30.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the business posted $2.05 earnings per share. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts forecast that Dover Co. will post 9.15 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.13%. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. Dover’s dividend payout ratio is 19.79%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Wells Fargo & Company upped their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Oppenheimer upped their price target on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Barclays upped their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average price target of $192.63.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.