Johnson Investment Counsel Inc. Trims Stock Position in Dover Corporation (NYSE:DOV)

Johnson Investment Counsel Inc. decreased its position in Dover Corporation (NYSE:DOV) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,694 shares of the industrial products company’s stock after selling 2,152 shares during the period. Johnson Investment Counsel Inc.’s holdings in Dover were worth $17,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Dover in the fourth quarter valued at $43,000. Mainstream Capital Management LLC acquired a new position in shares of Dover in the 4th quarter valued at $61,000. Ameriflex Group Inc. purchased a new position in shares of Dover during the 4th quarter worth $69,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Dover during the 4th quarter worth about $68,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Dover stock opened at $175.55 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.13 and a debt-to-equity ratio of 0.36. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The firm has a market cap of $24.07 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.27. The company’s 50 day moving average is $174.44 and its two-hundred day moving average is $184.78.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) 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 19.54% and a net margin of 28.85%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm earned $1.95 earnings per share. On average, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

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 1.17%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s payout ratio is presently 12.41%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $176.00 target price on shares of Dover in a research report on Friday, April 25th. Mizuho boosted 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. Robert W. Baird decreased their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on shares of Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Barclays boosted their target price on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.58.

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.