Ieq Capital LLC lifted its position in shares of Dover Co. (NYSE:DOV – Free Report) by 4.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,138 shares of the industrial products company’s stock after purchasing an additional 228 shares during the quarter. Ieq Capital LLC’s holdings in Dover were worth $781,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of DOV. U.S. Capital Wealth Advisors LLC purchased a new position in Dover in the 4th quarter worth approximately $29,000. Glass Jacobson Investment Advisors llc purchased a new position in Dover in the 4th quarter worth approximately $31,000. Concord Wealth Partners purchased a new position in Dover in the 4th quarter worth approximately $41,000. Fairfield Bush & CO. purchased a new position in Dover in the 1st quarter worth approximately $48,000. Finally, Quantbot Technologies LP purchased a new position in Dover in the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 83.77% of the company’s stock.
Wall Street Analysts Forecast Growth
DOV has been the subject of a number of analyst reports. StockNews.com initiated coverage on Dover in a report on Thursday, May 18th. They issued a “buy” rating for the company. Bank of America increased their target price on Dover from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Robert W. Baird reduced their target price on Dover from $176.00 to $170.00 in a research note on Wednesday, April 26th. Barclays reduced their target price on Dover from $141.00 to $138.00 and set an “equal weight” rating for the company in a research note on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Dover from $147.00 to $145.00 and set a “hold” rating for the company in a research note on Wednesday, April 12th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $162.08.
Dover Stock Performance
Dover (NYSE:DOV – Get Free Report) last issued its earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share for the quarter, hitting the consensus estimate of $1.94. Dover had a return on equity of 28.27% and a net margin of 12.51%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that Dover Co. will post 8.98 EPS for the current year.
Dover Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, May 30th. Dover’s dividend payout ratio is presently 26.93%.
Insiders Place Their Bets
In other Dover news, CFO Brad M. Cerepak sold 17,769 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $139.03, for a total value of $2,470,424.07. Following the sale, the chief financial officer now directly owns 54,569 shares of the company’s stock, valued at $7,586,728.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.
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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
Featured Articles
- Five stocks we like better than Dover
- MarketBeat Week in Review – 7/17 – 7/21
- U.S. Bancorp Shares Rally As Analysts Get Bullish After Q2 Report
- AutoNation Beats Earnings Expectations, Stock Down?
- American Express Hiccups After Earnings, Time To Buy?
- ISRG Stock Sinks After Strong Earnings: Is the Growth Priced In?
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.
