Stratos Wealth Partners LTD. Sells 345 Shares of Dover Corporation (NYSE:DOV)

Stratos Wealth Partners LTD. lowered its holdings in shares of Dover Corporation (NYSE:DOV) by 3.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,657 shares of the industrial products company’s stock after selling 345 shares during the period. Stratos Wealth Partners LTD.’s holdings in Dover were worth $1,521,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after buying an additional 57,453 shares during the last quarter. Geode Capital Management LLC raised its stake in Dover by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock worth $618,068,000 after buying an additional 74,541 shares during the last quarter. FMR LLC raised its stake in Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after buying an additional 32,565 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after buying an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Dover by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock worth $323,896,000 after buying an additional 245,535 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DOV shares. Robert W. Baird decreased their price target on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays lifted their price target 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. Citigroup decreased their price target on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Mizuho lifted their price target on shares of Dover from $215.00 to $225.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.50.

Dover Stock Down 0.8%

Shares of NYSE DOV opened at $189.00 on Friday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a market capitalization of $25.91 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.82 and a beta of 1.26. The company has a 50-day moving average price of $180.78 and a 200-day moving average price of $183.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56.

Dover (NYSE:DOV) last released its quarterly 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 28.85% and a return on equity of 19.54%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s dividend payout ratio (DPR) is presently 12.41%.

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.