Wedge Capital Management L L P NC lowered its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,637 shares of the industrial products company's stock after selling 3,643 shares during the quarter. Wedge Capital Management L L P NC owned 0.06% of Dover worth $15,045,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 87 shares in the last quarter. Orion Capital Management LLC bought a new stake in Dover during the fourth quarter worth $43,000. Golden State Wealth Management LLC bought a new stake in Dover during the fourth quarter worth $46,000. Mainstream Capital Management LLC bought a new position in Dover in the 4th quarter valued at $61,000. Finally, Ameriflex Group Inc. bought a new position in Dover in the 4th quarter valued at $69,000. Institutional investors own 84.46% of the company's stock.
Dover Stock Performance
Shares of DOV opened at $179.56 on Friday. The stock's 50-day simple moving average is $171.50 and its 200 day simple moving average is $186.14. The stock has a market capitalization of $24.62 billion, a price-to-earnings 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 quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 EPS. Research analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.
Dover Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. Dover's payout ratio is currently 12.41%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DOV. Barclays upped their price objective on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Robert W. Baird dropped their price target on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Mizuho set a $215.00 price target on Dover in a research report on Friday, May 16th. Finally, Citigroup dropped their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and an average target price of $207.75.
Read Our Latest Stock Report on Dover
Dover Profile
(
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.
Further Reading
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