Sequoia Financial Advisors LLC Increases Stake in Dover Co. (NYSE:DOV)

Sequoia Financial Advisors LLC boosted its stake in shares of Dover Co. (NYSE:DOV) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,843 shares of the industrial products company’s stock after buying an additional 208 shares during the period. Sequoia Financial Advisors LLC’s holdings in Dover were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in DOV. Spire Wealth Management boosted its holdings in Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 52 shares during the last quarter. Independent Advisor Alliance grew its stake in Dover by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after acquiring an additional 58 shares during the period. ORG Partners LLC increased its stake in shares of Dover by 5.4% during the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares in the last quarter. Trust Point Inc. increased its stake in Dover by 3.1% during the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after buying an additional 59 shares in the last quarter. Finally, JGP Wealth Management LLC raised its stake in Dover by 0.8% in the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOV. JPMorgan Chase & Co. lifted their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group cut their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Barclays lifted their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Up 1.1 %

Shares of NYSE DOV opened at $183.05 on Tuesday. The firm’s 50-day moving average is $195.02 and its two-hundred day moving average is $193.65. The company has a market capitalization of $25.12 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

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.