SVB Wealth LLC Makes New $2.98 Million Investment in Dover Co. (NYSE:DOV)

SVB Wealth LLC purchased a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, HoldingsChannel reports. The firm purchased 15,886 shares of the industrial products company’s stock, valued at approximately $2,980,000.

Several other institutional investors have also made changes to their positions in DOV. Mutual of America Capital Management LLC raised its holdings in Dover by 1.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 44,312 shares of the industrial products company’s stock valued at $8,313,000 after acquiring an additional 441 shares in the last quarter. Waterway Wealth Management LLC increased its position in shares of Dover by 37.3% in the fourth quarter. Waterway Wealth Management LLC now owns 2,158 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 586 shares during the period. QRG Capital Management Inc. raised its stake in Dover by 62.9% in the fourth quarter. QRG Capital Management Inc. now owns 89,155 shares of the industrial products company’s stock valued at $16,725,000 after purchasing an additional 34,430 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Dover during the fourth quarter worth about $28,718,000. Finally, Oppenheimer & Co. Inc. grew its stake in Dover by 28.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock worth $4,471,000 after buying an additional 5,289 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Up 1.1 %

Shares of DOV stock opened at $198.75 on Friday. Dover Co. has a twelve month low of $163.71 and a twelve month high of $222.31. The stock’s fifty day simple moving average is $196.05 and its 200 day simple moving average is $193.39. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $27.27 billion, a P/E ratio of 10.22, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, sell-side analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Citigroup reduced their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.91.

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.