Connecticut Wealth Management LLC Trims Stock Position in Dover Co. (NYSE:DOV)

Connecticut Wealth Management LLC lessened its stake in shares of Dover Co. (NYSE:DOV) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,325 shares of the industrial products company’s stock after selling 157 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Dover were worth $436,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DOV. Financial Life Planners purchased a new position in Dover during the 4th quarter worth $28,000. R Squared Ltd purchased a new position in shares of Dover during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC increased its position in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC purchased a new stake in Dover during the 4th quarter valued at approximately $43,000. Finally, Golden State Wealth Management LLC acquired a new stake in Dover during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.5%

Shares of NYSE DOV opened at $179.82 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $171.94 and a 200 day moving average price of $187.94. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $24.65 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.15%. Dover’s payout ratio is currently 12.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DOV. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Finally, Morgan Stanley began coverage on shares of Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective for the company. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.75.

Dover Company 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.