ORG Wealth Partners LLC Sells 2,136 Shares of Dover Corporation (NYSE:DOV)

ORG Wealth Partners LLC reduced its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 68.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998 shares of the industrial products company's stock after selling 2,136 shares during the period. ORG Wealth Partners LLC's holdings in Dover were worth $176,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Guided Capital Wealth Management LLC boosted its position in Dover by 38.5% during the 1st quarter. Guided Capital Wealth Management LLC now owns 11,980 shares of the industrial products company's stock worth $2,105,000 after acquiring an additional 3,332 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in shares of Dover by 8.2% in the first quarter. Global X Japan Co. Ltd. now owns 3,047 shares of the industrial products company's stock worth $535,000 after purchasing an additional 232 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Dover by 5.5% during the first quarter. Premier Path Wealth Partners LLC now owns 1,538 shares of the industrial products company's stock worth $270,000 after purchasing an additional 80 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Dover by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,065 shares of the industrial products company's stock valued at $2,822,000 after buying an additional 420 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in Dover by 1.6% during the 1st quarter. Cornerstone Wealth Management LLC now owns 26,951 shares of the industrial products company's stock worth $4,735,000 after buying an additional 433 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on DOV. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $176.00 target price on shares of Dover in a research report on Friday, April 25th. Barclays raised their price target on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Morgan Stanley initiated coverage on Dover in a report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective for the company. Robert W. Baird decreased their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price target 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and an average target price of $208.58.

Dover Stock Performance

DOV stock traded down $0.96 during mid-day trading on Friday, hitting $174.74. 2,230,551 shares of the company were exchanged, compared to its average volume of 960,030. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The stock has a market capitalization of $23.96 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The business has a 50 day simple moving average of $174.75 and a 200-day simple moving average of $184.58. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $0.515 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.18%. Dover's payout ratio is 12.41%.

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.