Griffin Asset Management Inc. Has $9.36 Million Position in Dover Co. (NYSE:DOV)

Griffin Asset Management Inc. grew its holdings in Dover Co. (NYSE:DOV - Free Report) by 8.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,275 shares of the industrial products company's stock after purchasing an additional 4,070 shares during the period. Dover comprises 1.1% of Griffin Asset Management Inc.'s portfolio, making the stock its 28th largest holding. Griffin Asset Management Inc.'s holdings in Dover were worth $9,359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DOV. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 87 shares during the last quarter. Orion Capital Management LLC bought a new position in Dover during the fourth quarter valued at approximately $43,000. Mainstream Capital Management LLC acquired a new stake in Dover in the fourth quarter valued at approximately $61,000. Ameriflex Group Inc. bought a new stake in Dover in the fourth quarter worth approximately $69,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Dover during the 4th quarter worth $68,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Performance

NYSE DOV traded down $2.51 during trading on Friday, hitting $176.27. The company's stock had a trading volume of 898,534 shares, compared to its average volume of 957,686. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The firm has a market cap of $24.17 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The firm has a 50 day moving average price of $173.47 and a 200 day moving average price of $185.39. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last released its 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 32.95% and a return on equity of 21.03%. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the company earned $1.95 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 30th. Dover's payout ratio is presently 12.41%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DOV shares. Robert W. Baird reduced their price objective 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. Morgan Stanley started coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays boosted their target price on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price target on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and a consensus price target of $208.58.

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.