Woodley Farra Manion Portfolio Management Inc. Has $61 Million Stock Holdings in Dover Corporation (NYSE:DOV)

Key Points

• Woodley Farra Manion Portfolio Management Inc. increased its stake in Dover Corporation by 2.0%, holding 347,232 shares valued at approximately $61 million, making it the 16th largest position in their portfolio.
• Research analysts have raised target prices for Dover, with Mizuho setting a target of $225, while Wells Fargo increased theirs to $195, indicating optimistic sentiment around the company's performance.
• Dover reported earnings of $2.44 per share in its latest quarterly results, exceeding estimates and reflecting a 5.2% revenue increase year-over-year, showcasing its healthy financial state.

Woodley Farra Manion Portfolio Management Inc. increased its stake in Dover Corporation (NYSE:DOV - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,232 shares of the industrial products company's stock after purchasing an additional 6,863 shares during the period. Dover accounts for 3.0% of Woodley Farra Manion Portfolio Management Inc.'s portfolio, making the stock its 16th largest holding. Woodley Farra Manion Portfolio Management Inc. owned about 0.25% of Dover worth $61,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of DOV. GAMMA Investing LLC grew its holdings in shares of Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company's stock valued at $98,917,000 after buying an additional 561,487 shares during the period. Balyasny Asset Management L.P. acquired a new position in Dover in the 4th quarter worth $99,017,000. Adage Capital Partners GP L.L.C. boosted its stake in Dover by 31.6% in 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 purchasing an additional 524,092 shares during the period. Assenagon Asset Management S.A. boosted its stake in Dover by 350.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company's stock worth $72,090,000 after purchasing an additional 319,319 shares during the period. Finally, Woodline Partners LP lifted its position in Dover by 352.9% during the 4th quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company's stock worth $72,260,000 after buying an additional 300,124 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Dover Trading Down 3.4%

NYSE DOV traded down $6.17 during mid-day trading on Friday, reaching $174.97. 1,540,718 shares of the stock were exchanged, compared to its average volume of 1,161,363. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock has a 50 day simple moving average of $182.70 and a 200-day simple moving average of $183.11. The stock has a market cap of $23.99 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.05. Dover had a net margin of 29.29% and a return on equity of 18.19%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm earned $2.36 earnings per share. Dover's quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on DOV shares. Royal Bank Of Canada boosted their price target on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Robert W. Baird upped their target price on shares of Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Citigroup reaffirmed a "buy" rating and issued a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on shares of Dover from $211.00 to $217.00 and gave the company an "overweight" rating in a report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $195.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.92.

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.