Transcendent Capital Group LLC Buys 156 Shares of Dover Co. (NYSE:DOV)

Transcendent Capital Group LLC raised its stake in Dover Co. (NYSE:DOV) by 208.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 231 shares of the industrial products company’s stock after buying an additional 156 shares during the period. Transcendent Capital Group LLC’s holdings in Dover were worth $41,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after purchasing an additional 1,595,611 shares during the period. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at about $175,275,000. Franklin Resources Inc. lifted its stake in shares of Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares during the period. Wellington Management Group LLP lifted its stake in shares of Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after purchasing an additional 414,481 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in shares of Dover by 469.4% in the 4th quarter. Teacher Retirement System of Texas now owns 252,768 shares of the industrial products company’s stock valued at $38,878,000 after purchasing an additional 208,378 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock traded up $1.24 during trading on Monday, hitting $186.47. The company’s stock had a trading volume of 948,144 shares, compared to its average volume of 1,017,339. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31. The company has a market cap of $25.63 billion, a PE ratio of 17.79, a P/E/G ratio of 2.24 and a beta of 1.22. The business has a fifty day moving average of $181.49 and a 200-day moving average of $172.86.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $2.05 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Dover Co. will post 9.13 earnings per share for the current 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 given 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 dividend yield of 1.09%. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Barclays upped their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Wells Fargo & Company upped their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.63.

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.