Pier 88 Investment Partners LLC Sells 1,593 Shares of Dover Corporation (NYSE:DOV)

Pier 88 Investment Partners LLC cut its position in Dover Corporation (NYSE:DOV - Free Report) by 24.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the industrial products company's stock after selling 1,593 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Dover were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in DOV. North Capital Inc. bought a new stake in shares of Dover in the first quarter worth $29,000. Orion Capital Management LLC purchased a new position in Dover during the fourth quarter worth approximately $43,000. Ameriflex Group Inc. purchased a new position in Dover during the fourth quarter valued at $69,000. Quarry LP raised its position in shares of Dover by 257.0% in the fourth quarter. Quarry LP now owns 407 shares of the industrial products company's stock valued at $76,000 after buying an additional 293 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Dover by 24.1% during the first quarter. SBI Securities Co. Ltd. now owns 494 shares of the industrial products company's stock worth $87,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 84.46% of the company's stock.

Dover Stock Performance

NYSE:DOV traded up $1.35 during trading on Tuesday, reaching $188.33. The company's stock had a trading volume of 181,026 shares, compared to its average volume of 959,377. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. The firm has a 50 day moving average of $182.30 and a 200-day moving average of $183.12. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

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

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. Dover's dividend payout ratio (DPR) is currently 12.41%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. 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 note on Friday, May 16th. Morgan Stanley started coverage on shares of Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective for the company. Royal Bank Of Canada restated a "sector perform" rating and set a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Mizuho lifted their target price on shares of Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Finally, Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $208.58.

Dover 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.

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