Wilkins Investment Counsel Inc. Lowers Stake in Dover Corporation (NYSE:DOV)

Key Points

• Wilkins Investment Counsel Inc. reduced its holdings in Dover Corporation by 26.7%, owning 3,850 shares worth approximately $676,000 after selling 1,400 shares in the first quarter.
• Dover's recent earnings report showed an EPS of $2.44, exceeding expectations and reflecting a 5.2% year-over-year revenue growth with total revenue of $2.05 billion.
• The company announced a dividend of $0.515 per share, resulting in an annualized dividend of $2.06 with a yield of 1.10%.

Wilkins Investment Counsel Inc. reduced its position in Dover Corporation (NYSE:DOV - Free Report) by 26.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,850 shares of the industrial products company's stock after selling 1,400 shares during the period. Wilkins Investment Counsel Inc.'s holdings in Dover were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares during the last quarter. Sei Investments Co. grew its position in Dover by 19.2% in the fourth quarter. Sei Investments Co. now owns 85,778 shares of the industrial products company's stock worth $16,092,000 after acquiring an additional 13,840 shares in the last quarter. LPL Financial LLC grew its position in Dover by 3.3% in the fourth quarter. LPL Financial LLC now owns 144,679 shares of the industrial products company's stock worth $27,142,000 after acquiring an additional 4,683 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Dover by 11.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 78,612 shares of the industrial products company's stock worth $14,748,000 after acquiring an additional 7,773 shares in the last quarter. Finally, Korea Investment CORP boosted its position in shares of Dover by 66.4% during the fourth quarter. Korea Investment CORP now owns 94,432 shares of the industrial products company's stock valued at $17,715,000 after buying an additional 37,690 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of DOV traded down $0.62 during trading hours on Tuesday, reaching $184.31. 271,216 shares of the company traded hands, compared to its average volume of 1,065,289. The stock has a market capitalization of $25.27 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.36. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The business has a fifty day moving average price of $182.60 and a 200-day moving average price of $183.15.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.36 EPS. Equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 30th. Dover's payout ratio is currently 12.42%.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of research reports. Barclays boosted their price target on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a report on Friday. Royal Bank Of Canada boosted their price objective on shares of Dover from $203.00 to $206.00 and gave the stock a "sector perform" rating in a research note on Friday. Morgan Stanley initiated 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. Wells Fargo & Company boosted their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Mizuho boosted their price objective on shares of Dover from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Dover currently has a consensus rating of "Moderate Buy" and an average target price of $213.92.

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.