Golden State Wealth Management LLC Raises Stock Holdings in Dover Corporation (NYSE:DOV)

Golden State Wealth Management LLC increased its holdings in Dover Corporation (NYSE:DOV - Free Report) by 707.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 reporting period.

Several other large investors have also bought and sold shares of DOV. Vanguard Group Inc. increased its stake in shares of Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock valued at $3,045,772,000 after buying an additional 57,453 shares during the period. Geode Capital Management LLC boosted its holdings in Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after acquiring an additional 74,541 shares during the last quarter. FMR LLC raised its holdings 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 purchasing an additional 32,565 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 valued at $409,530,000 after purchasing an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp raised 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 owned by institutional investors.

Analyst Ratings Changes

DOV has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Dover from $180.00 to $190.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Mizuho lifted their price objective on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Barclays increased their target price on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Finally, Citigroup decreased their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.50.

Dover Stock Down 0.7%

Shares of NYSE:DOV traded down $1.33 during midday trading on Monday, hitting $187.30. 1,069,521 shares of the company's stock were exchanged, compared to its average volume of 955,163. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The company has a market cap of $25.68 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The stock has a 50 day moving average price of $179.00 and a 200-day moving average price of $183.11.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $1.95 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover's payout ratio is 12.41%.

Dover 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.