Patrick M Sweeney & Associates Inc. Has $220,000 Stock Holdings in Dover Co. (NYSE:DOV)

Patrick M Sweeney & Associates Inc. cut its stake in Dover Co. (NYSE:DOV) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,255 shares of the industrial products company’s stock after selling 65 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Dover were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DOV. Vanguard Group Inc. increased its position in shares of 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 period. Geode Capital Management LLC boosted its position 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 valued at $618,068,000 after acquiring an additional 74,541 shares during the last quarter. FMR LLC grew its holdings in Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after acquiring an additional 32,565 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of 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 worth $409,530,000 after acquiring an additional 524,092 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Dover by 16.6% in the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock valued at $323,896,000 after purchasing an additional 245,535 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 1.3%

DOV stock opened at $179.56 on Monday. The firm has a market capitalization of $24.62 billion, a PE ratio of 9.23, a P/E/G ratio of 2.06 and a beta of 1.27. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The stock’s 50 day moving average is $171.50 and its 200-day moving average is $186.03.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.95 EPS. Sell-side analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.15%. Dover’s dividend payout ratio (DPR) is 12.41%.

Analysts Set New Price Targets

DOV has been the subject of several recent analyst reports. Citigroup decreased their target price on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Mizuho set a $215.00 price objective on shares of Dover in a research note on Friday, May 16th. Barclays increased their target price on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. 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. Finally, Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.