Golden State Wealth Management LLC Purchases 1,740 Shares of Dover Corporation (NYSE:DOV)

Golden State Wealth Management LLC lifted its holdings in Dover Corporation (NYSE:DOV - Free Report) by 707.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,986 shares of the industrial products company's stock after purchasing an additional 1,740 shares during the quarter. Golden State Wealth Management LLC's holdings in Dover were worth $349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 87 shares in the last quarter. Orion Capital Management LLC bought a new stake in Dover in the fourth quarter worth $43,000. Ameriflex Group Inc. bought a new stake in Dover in the fourth quarter worth $69,000. SBI Securities Co. Ltd. bought a new stake in Dover in the fourth quarter worth $75,000. Finally, Quarry LP lifted its position in Dover by 257.0% in the fourth quarter. Quarry LP now owns 407 shares of the industrial products company's stock worth $76,000 after buying an additional 293 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank Of Canada restated a "sector perform" rating and issued a $176.00 price target on shares of Dover in a research report on Friday, April 25th. Morgan Stanley assumed coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. Robert W. Baird lowered their price target on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.50.

Dover Stock Down 0.5%

Shares of Dover stock traded down $0.93 during trading on Friday, hitting $187.23. 488,787 shares of the stock traded hands, compared to its average volume of 954,704. The firm has a market cap of $25.67 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The stock's fifty day simple moving average is $179.00 and its 200 day simple moving average is $183.15.

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

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover's dividend payout ratio is presently 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.