WealthPlan Investment Management LLC Raises Stock Position in Dover Corporation $DOV

Key Points

• WealthPlan Investment Management LLC increased its stake in Dover Corporation by 13.6%, owning 39,468 shares worth approximately $7.23 million after acquiring an additional 4,728 shares.
• Dover Corporation declared a quarterly dividend of $0.52 per share, with an annualized yield of 1.3% and a payout ratio of 12.55%.
• Research analysts project an average target price of $212.67 for Dover stock, with a consensus rating of "Moderate Buy" from eight analysts, while several firms have recently adjusted their price targets.

WealthPlan Investment Management LLC increased its stake in Dover Corporation (NYSE:DOV - Free Report) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,468 shares of the industrial products company's stock after purchasing an additional 4,728 shares during the quarter. WealthPlan Investment Management LLC's holdings in Dover were worth $7,232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new stake in Dover in the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in Dover in the first quarter worth approximately $31,000. Harbour Investments Inc. boosted its holdings in Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in Dover in the second quarter worth approximately $33,000. Finally, Truvestments Capital LLC boosted its holdings in Dover by 1,005.9% in the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.0%

Shares of DOV stock opened at $162.58 on Thursday. The company has a market capitalization of $22.29 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.29 and a beta of 1.26. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company's fifty day moving average price is $172.89 and its 200-day moving average price is $175.50. 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 quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The firm had revenue of $1.78 billion for the quarter. Dover had a net margin of 29.29% and a return on equity of 18.19%. Sell-side analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. This is an increase from Dover's previous quarterly dividend of $0.52. Dover's payout ratio is presently 12.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DOV shares. Robert W. Baird lifted their price target on shares of Dover from $219.00 to $234.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Wells Fargo & Company dropped their price target on shares of Dover from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $217.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday. Barclays dropped their price target on shares of Dover from $193.00 to $190.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Dover in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.67.

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.

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