Alpine Bank Wealth Management Takes $374,000 Position in Dover Corporation (NYSE:DOV)

Alpine Bank Wealth Management acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,128 shares of the industrial products company's stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Dover by 0.4% during the fourth 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 position in shares of Dover by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after purchasing an additional 74,541 shares in the last quarter. FMR LLC increased its position in shares of 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 purchasing an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of 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 purchasing 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 currently owned by hedge funds and other institutional investors.

Dover Price Performance

DOV opened at $180.09 on Wednesday. The stock's 50-day moving average price is $175.62 and its 200 day moving average price is $183.94. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.71 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Dover's revenue was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.14%. Dover's dividend payout ratio (DPR) is 12.41%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DOV shares. Robert W. Baird lowered their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Mizuho boosted their price objective on Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Royal Bank Of Canada reissued a "sector perform" rating and set a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Finally, Barclays boosted their price objective on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.58.

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.

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