Envestnet Portfolio Solutions Inc. Purchases 1,449 Shares of Dover Co. (NYSE:DOV)

Envestnet Portfolio Solutions Inc. grew its position in shares of Dover Co. (NYSE:DOV) by 9.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 17,297 shares of the industrial products company’s stock after buying an additional 1,449 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Dover were worth $3,245,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Dover in the 4th quarter worth approximately $28,000. R Squared Ltd bought a new stake in Dover in the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC increased its position in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC bought a new position in Dover in the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover in the 4th quarter worth about $46,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 0.8 %

Dover stock opened at $182.27 on Thursday. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The business’s fifty day moving average is $194.78 and its 200 day moving average is $193.54. 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 stock has a market capitalization of $25.01 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

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

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DOV. Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup lowered their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. UBS Group lowered their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

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.