Alps Advisors Inc. Trims Position in Dover Corporation (NYSE:DOV)

Alps Advisors Inc. lessened its position in shares of Dover Corporation (NYSE:DOV) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,533 shares of the industrial products company’s stock after selling 205 shares during the quarter. Alps Advisors Inc.’s holdings in Dover were worth $1,148,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in Dover during the first quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the period. Orion Capital Management LLC bought a new stake in Dover during the fourth quarter valued at about $43,000. Ameriflex Group Inc. bought a new stake in Dover during the fourth quarter valued at about $69,000. Finally, Quarry LP grew its holdings in Dover by 257.0% during the fourth quarter. Quarry LP now owns 407 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DOV. Mizuho boosted their price target on Dover from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Barclays upped their price objective on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 1st. Citigroup dropped 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. Finally, JPMorgan Chase & Co. upped their price objective on Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.50.

Dover Price Performance

Shares of Dover stock opened at $189.00 on Monday. The stock has a 50 day moving average of $180.78 and a 200 day moving average of $183.07. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The firm has a market cap of $25.91 billion, a PE ratio of 11.39, a PEG ratio of 1.80 and a beta of 1.26. 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 (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 19.54% and a net margin of 28.85%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the company earned $1.95 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, May 30th. Dover’s payout ratio is 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.