Dover Co. (NYSE:DOV) Stock Holdings Lessened by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its stake in Dover Co. (NYSE:DOV) by 4.6% in the first quarter, Holdings Channel.com reports. The firm owned 5,001 shares of the industrial products company’s stock after selling 239 shares during the quarter. Park Avenue Securities LLC’s holdings in Dover were worth $886,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DOV. LPL Financial LLC raised its position in Dover by 19.2% during the third quarter. LPL Financial LLC now owns 107,154 shares of the industrial products company’s stock valued at $14,949,000 after acquiring an additional 17,245 shares in the last quarter. Natixis Advisors L.P. raised its position in Dover by 2.1% during the third quarter. Natixis Advisors L.P. now owns 108,735 shares of the industrial products company’s stock valued at $15,170,000 after acquiring an additional 2,226 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Dover by 5.1% during the third quarter. O Shaughnessy Asset Management LLC now owns 20,987 shares of the industrial products company’s stock valued at $2,928,000 after acquiring an additional 1,011 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Dover by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 61,289 shares of the industrial products company’s stock valued at $8,550,000 after acquiring an additional 310 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Dover by 113.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,628 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 8,309 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 0.7 %

Shares of Dover stock opened at $178.81 on Thursday. The company’s fifty day simple moving average is $180.66 and its 200-day simple moving average is $168.03. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.23 and a beta of 1.24. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. Dover Co. has a 1 year low of $127.25 and a 1 year high of $188.64.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.51 per share. The ex-dividend date was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a yield of 1.14%. Dover’s dividend payout ratio is currently 19.60%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DOV. Citigroup lifted their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Mizuho lifted their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Robert W. Baird lifted their price target on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Barclays lifted their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Three investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

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.