Tilia Fiduciary Partners Inc. lowered its position in shares of Dover Co. (NYSE:DOV - Free Report) by 35.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,341 shares of the industrial products company's stock after selling 3,437 shares during the quarter. Tilia Fiduciary Partners Inc.'s holdings in Dover were worth $1,114,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its position in Dover by 7.0% in the 1st quarter. Park Avenue Securities LLC now owns 8,762 shares of the industrial products company's stock valued at $1,539,000 after acquiring an additional 570 shares in the last quarter. Reliant Investment Management LLC bought a new position in Dover in the first quarter worth approximately $282,000. First Affirmative Financial Network lifted its position in Dover by 4.8% during the first quarter. First Affirmative Financial Network now owns 1,834 shares of the industrial products company's stock valued at $322,000 after purchasing an additional 84 shares in the last quarter. Clarus Wealth Advisors purchased a new position in shares of Dover during the 1st quarter valued at about $254,000. Finally, Merit Financial Group LLC boosted its position in shares of Dover by 3.6% in the first quarter. Merit Financial Group LLC now owns 3,290 shares of the industrial products company's stock worth $578,000 after purchasing an additional 114 shares during the period. 84.46% of the stock is owned by institutional investors.
Dover Price Performance
Shares of DOV opened at $179.56 on Friday. The firm has a market capitalization of $24.62 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company's fifty day moving average price is $171.50 and its 200-day moving average price is $186.14. Dover Co. has a 1-year low of $143.04 and a 1-year 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 business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company's revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.95 earnings per share. On average, equities research analysts predict that Dover Co. will post 9.45 EPS for the current year.
Dover Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. Dover's payout ratio is currently 12.41%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on DOV shares. Barclays increased their price objective on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $176.00 target price on shares of Dover in a report on Friday, April 25th. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $207.75.
View Our Latest Analysis on DOV
About Dover
(
Free Report)
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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