Cobblestone Capital Advisors LLC NY Sells 129 Shares of Dover Corporation (NYSE:DOV)

Cobblestone Capital Advisors LLC NY lessened its holdings in Dover Corporation (NYSE:DOV) by 4.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,645 shares of the industrial products company’s stock after selling 129 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Dover were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of DOV. North Capital Inc. bought a new position in Dover in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC bought a new position in Dover in the 1st quarter valued at $31,000. Costello Asset Management INC bought a new position in Dover in the 1st quarter valued at $35,000. Orion Capital Management LLC bought a new position in shares of Dover during the 4th quarter worth $43,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Dover during the 1st quarter worth $46,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent research reports. Mizuho increased their price target on Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. JPMorgan Chase & Co. increased their price target on Dover from $211.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Barclays increased their price target on Dover from $185.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Friday, July 25th. Citigroup reissued a “buy” rating and set a $226.00 price target (up previously from $202.00) on shares of Dover in a research report on Monday, July 14th. Finally, Royal Bank Of Canada increased their price target on Dover from $203.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.92.

Dover Trading Down 0.3%

Dover stock opened at $173.43 on Monday. The stock has a 50-day moving average of $182.22 and a two-hundred day moving average of $182.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.95. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The stock has a market cap of $23.78 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.38 and a beta of 1.26.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.05. Dover had a return on equity of 18.19% and a net margin of 29.29%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business posted $2.36 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is presently 12.42%.

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.