Concurrent Investment Advisors LLC Buys Shares of 1,782 Dover Corporation (NYSE:DOV)

Concurrent Investment Advisors LLC purchased a new position in shares of Dover Corporation (NYSE:DOV - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,782 shares of the industrial products company's stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. North Capital Inc. acquired a new position in shares of Dover in the first quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its position in Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC bought a new stake in shares of Dover in the fourth quarter valued at approximately $43,000. Ameriflex Group Inc. acquired a new stake in Dover during the fourth quarter worth about $69,000. Finally, Quarry LP boosted its stake in shares of Dover by 257.0% in the 4th quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after purchasing an additional 293 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on DOV shares. Wells Fargo & Company raised their price target on shares of Dover from $180.00 to $190.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Morgan Stanley assumed coverage on shares of Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective on the stock. Citigroup reiterated a "buy" rating on shares of Dover in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Robert W. Baird reduced their price target on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Dover has a consensus rating of "Moderate Buy" and an average price target of $206.50.

Dover Stock Down 0.2%

Dover stock traded down $0.35 during midday trading on Monday, reaching $188.59. The company's stock had a trading volume of 1,214,775 shares, compared to its average volume of 955,028. The stock's 50-day simple moving average is $180.78 and its 200-day simple moving average is $183.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The stock has a market capitalization of $25.86 billion, a P/E ratio of 11.35, a PEG ratio of 1.80 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned $1.95 earnings per share. Dover's revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. Dover's payout ratio is 12.41%.

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.