Annex Advisory Services LLC Sells 344 Shares of Dover Co. (NYSE:DOV)

Annex Advisory Services LLC lessened its stake in Dover Co. (NYSE:DOV) by 1.7% in the first quarter, HoldingsChannel reports. The firm owned 20,440 shares of the industrial products company’s stock after selling 344 shares during the period. Annex Advisory Services LLC’s holdings in Dover were worth $3,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ecofi Investissements SA grew its stake in Dover by 1.1% in the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after acquiring an additional 50 shares during the period. Spire Wealth Management grew its stake in Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares during the period. Trust Point Inc. grew its stake in Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 59 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 67 shares during the period. Finally, Lido Advisors LLC grew its stake in Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company’s stock valued at $923,000 after acquiring an additional 69 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE DOV opened at $177.74 on Thursday. The stock has a 50 day moving average price of $171.41 and a 200 day moving average price of $186.52. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market capitalization of $24.37 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.99 by $0.06. The firm had revenue of $1.87 billion during 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 quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 earnings per share. Analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm 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 1.16%. Dover’s dividend payout ratio is 12.41%.

Analysts Set New Price Targets

A number of research analysts have issued reports on DOV shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $176.00 target price on shares of Dover in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Mizuho set a $215.00 price objective on Dover in a research report on Friday, May 16th. Morgan Stanley assumed coverage on Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective for the company. Finally, Citigroup reduced their price objective on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average 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.