Sei Investments Co. buys 3,590 shares of Dover Co. (NYSE:DOV)

Sei Investments Co. increased its position in shares of Dover Co. (NYSE:DOV – Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,180 shares of the industrial products company after purchasing an additional 3,590 shares during the quarter. Sei Investments Co.’s shares of Dover were worth $10,663,000 at the time of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company recently. Franklin Resources Inc. increased its stake in Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dover by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after purchasing an additional 140,089 shares during the period. Wellington Management Group LLP increased its position 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 worth $189,433,000 after purchasing an additional 414,481 shares during the period. Corient Private Wealth LLC increased its position in shares of Dover by 15.9% during the 4th quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after purchasing an additional 157,614 shares during the period. Finally, Norges Bank acquired a new stake in shares of Dover during the 4th quarter worth approximately $175,275,000. Institutional investors own 84.46% of the company’s stock.

Analysts set new price targets

Several analysts have recently commented on the stock. Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird raised their price target on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Barclays raised their price objective on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $185.75.

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Dover shares down 1.4%

Shares of NYSE DOV opened at $183.70 on Friday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.30 and a beta of 1.22. The company has a 50-day moving average of $181.73 and a 200-day moving average of $171.35.

Dover (NYSE:DOV – Get Free Report) last released its earnings results on Thursday, April 25. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. Dover’s revenue for the quarter was up 0.7% from the year-ago quarter. In the year-ago quarter, the company earned $1.94 EPS. Sell-side analysts expect Dover Co. to post 9.1 EPS for the current fiscal year.

Dover announces dividend

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

Dover Company Profile

(Free Report)

Dover Corporation is a global provider of equipment and components, consumables, aftermarket parts, software and digital solutions, and support services. The company’s Engineered Products segment provides diverse equipment, components, software, solutions and services used in the automotive aftermarket, waste management, industrial automation, aerospace and defense, industrial winches and hoists, and the fluid dispensing end market.

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