Price T Rowe Associates Inc. MD Has $466.62 Million Stock Holdings in Dover Co. (NYSE:DOV)

Price T Rowe Associates Inc. MD increased its position in Dover Co. (NYSE:DOV) by 153.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,633,453 shares of the industrial products company’s stock after purchasing an additional 1,595,611 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Dover were worth $466,622,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. BSW Wealth Partners grew its stake in shares of Dover by 1.2% in the 1st quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after buying an additional 59 shares during the period. Summit Trail Advisors LLC grew its stake in shares of Dover by 2.6% in the 1st quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock valued at $413,000 after buying an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Dover by 5.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after buying an additional 62 shares during the period. Legacy Financial Advisors Inc. lifted its position in Dover by 1.7% in the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 63 shares in the last quarter. Finally, CWM LLC lifted its position in Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Oppenheimer raised their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Finally, Mizuho lifted their target price on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Stock Performance

Shares of DOV stock traded down $1.24 during trading hours on Monday, hitting $183.99. 184,770 shares of the company were exchanged, compared to its average volume of 1,012,037. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31. The stock has a market capitalization of $25.29 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 2.24 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $181.49 and a 200 day simple moving average of $172.86.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business earned $2.05 EPS. Dover’s revenue was up 3.7% compared to the same quarter last year. Research analysts predict that Dover Co. will post 9.13 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a yield of 1.11%. Dover’s dividend payout ratio is 19.60%.

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.