Golden State Equity Partners Sells 312 Shares of Dover Corporation (NYSE:DOV)

Golden State Equity Partners cut its position in Dover Corporation (NYSE:DOV) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,439 shares of the industrial products company’s stock after selling 312 shares during the period. Golden State Equity Partners’ holdings in Dover were worth $428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Dover in the fourth quarter valued at approximately $316,228,000. GAMMA Investing LLC lifted its holdings in shares of Dover by 35,832.0% in the 1st quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company’s stock worth $98,917,000 after purchasing an additional 561,487 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Dover in the 4th quarter worth $99,017,000. Adage Capital Partners GP L.L.C. grew its position in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Dover by 350.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company’s stock valued at $72,090,000 after purchasing an additional 319,319 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

Shares of Dover stock opened at $183.35 on Friday. The business’s fifty day simple moving average is $176.44 and its 200 day simple moving average is $183.78. The company has a current ratio of 2.13, a quick ratio of 1.56 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 firm has a market capitalization of $25.14 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Dover had a return on equity of 19.54% and a net margin of 28.85%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.95 EPS. As a group, analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s payout ratio is 12.41%.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Morgan Stanley assumed coverage on shares of Dover in a research report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target on the stock. Mizuho lifted their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. JPMorgan Chase & Co. boosted their price objective on Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Finally, Citigroup lowered their price objective on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $208.58.

About Dover

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.