Sagespring Wealth Partners LLC Makes New Investment in Dover Co. (NYSE:DOV)

Sagespring Wealth Partners LLC acquired a new position in shares of Dover Co. (NYSE:DOV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,500 shares of the industrial products company’s stock, valued at approximately $469,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after buying an additional 57,453 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 worth $618,068,000 after acquiring an additional 74,541 shares during the last quarter. FMR LLC grew its holdings in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after purchasing an additional 32,565 shares during the period. Norges Bank acquired a new position in Dover during the fourth quarter worth approximately $316,228,000. Finally, Invesco Ltd. boosted its holdings in shares of Dover by 10.8% in the 4th quarter. Invesco Ltd. now owns 1,179,207 shares of the industrial products company’s stock valued at $221,219,000 after purchasing an additional 114,719 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on DOV shares. Citigroup dropped their price objective on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley initiated coverage on Dover in a report on Monday. They issued an “equal weight” rating and a $185.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Dover Stock Performance

Dover stock opened at $163.27 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm’s fifty day moving average price is $183.16 and its 200 day moving average price is $191.09. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, research analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.26%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

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.