Dover Co. (NYSE:DOV) Shares Sold by Rockland Trust Co.

Rockland Trust Co. cut its holdings in Dover Co. (NYSE:DOV) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,315 shares of the industrial products company’s stock after selling 222 shares during the period. Rockland Trust Co.’s holdings in Dover were worth $2,691,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of DOV. EverSource Wealth Advisors LLC boosted its holdings in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the period. Orion Capital Management LLC acquired a new position in shares of Dover in the 4th quarter valued at about $43,000. Mainstream Capital Management LLC acquired a new position in shares of Dover in the 4th quarter valued at about $61,000. Catalyst Capital Advisors LLC acquired a new position in shares of Dover in the 4th quarter valued at about $68,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Dover in the 4th quarter valued at about $69,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 0.2%

DOV stock opened at $178.74 on Friday. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market capitalization of $24.51 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The firm’s 50-day moving average is $172.96 and its two-hundred day moving average is $185.60. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last released its quarterly 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. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $1.95 EPS. Dover’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. Dover’s payout ratio is currently 12.41%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DOV. Royal Bank of Canada reissued a “sector perform” rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Barclays boosted their target price 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. Mizuho set a $215.00 target price on shares of Dover in a research note on Friday, May 16th. Morgan Stanley began coverage on shares of Dover in a research note on Monday, April 14th. They set an “equal weight” rating and a $185.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.75.

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.