Clarus Wealth Advisors Buys New Shares in Dover Co. (NYSE:DOV)

Clarus Wealth Advisors bought a new position in Dover Co. (NYSE:DOV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,530 shares of the industrial products company's stock, valued at approximately $254,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. Geode Capital Management LLC lifted its position in Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after buying an additional 74,541 shares in the last quarter. FMR LLC lifted its position in Dover by 1.1% during the 4th 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 4th 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 lifted its position in Dover by 16.6% during the 4th 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 in the last quarter. Institutional investors own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $176.00 price target on shares of Dover in a research report on Friday, April 25th. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Morgan Stanley began coverage on shares of Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Mizuho set a $215.00 price target on Dover in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and an average price target of $207.75.

Dover Stock Down 0.3%

Shares of DOV stock traded down $0.57 on Thursday, hitting $177.09. 887,602 shares of the stock were exchanged, compared to its average volume of 964,861. The business has a 50-day moving average of $171.41 and a 200 day moving average of $186.52. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market capitalization of $24.28 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. The company had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.95 EPS. Equities analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 30th. Dover's payout ratio is 12.41%.

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.