Geneos Wealth Management Inc. Has $7.36 Million Holdings in Dover Corporation (NYSE:DOV)

Key Points

• Geneos Wealth Management Inc. increased its stake in Dover Corporation by 97.0%, owning 41,849 shares valued at approximately $7.36 million as of its latest SEC filing.
• Dover Corporation's earnings report showed an EPS of $2.44, surpassing the consensus estimate of $2.39, with a revenue of $2.05 billion, reflecting a 5.2% year-over-year increase.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of around $213.92, with several analysts raising their price objectives following recent performance.

Geneos Wealth Management Inc. increased its stake in Dover Corporation (NYSE:DOV - Free Report) by 97.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,849 shares of the industrial products company's stock after acquiring an additional 20,610 shares during the period. Geneos Wealth Management Inc.'s holdings in Dover were worth $7,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in Dover by 707.3% during the first quarter. Golden State Wealth Management LLC now owns 1,986 shares of the industrial products company's stock worth $349,000 after buying an additional 1,740 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Dover by 10.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,622 shares of the industrial products company's stock worth $2,227,000 after buying an additional 1,160 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Dover by 45.4% during the first quarter. Farther Finance Advisors LLC now owns 599 shares of the industrial products company's stock worth $106,000 after buying an additional 187 shares in the last quarter. Heartland Bank & Trust Co bought a new stake in Dover during the first quarter worth approximately $739,000. Finally, GAMMA Investing LLC boosted its holdings in Dover by 104.5% during the first quarter. GAMMA Investing LLC now owns 3,205 shares of the industrial products company's stock worth $563,000 after buying an additional 1,638 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DOV shares. Citigroup restated a "buy" rating and set a $226.00 target price (up from $202.00) on shares of Dover in a report on Monday, July 14th. Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Barclays raised their price objective on shares of Dover from $185.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Royal Bank Of Canada raised their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Six investment 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, Dover has an average rating of "Moderate Buy" and a consensus target price of $213.92.

Dover Stock Performance

NYSE DOV traded down $6.17 during midday trading on Friday, hitting $174.97. The company had a trading volume of 1,540,718 shares, compared to its average volume of 1,161,363. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.99 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 1.44 and a beta of 1.26. The firm has a fifty day simple moving average of $182.70 and a two-hundred day simple moving average of $183.11. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business earned $2.36 EPS. The firm's revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Company 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.