Dover Co. (NYSE:DOV) Shares Sold by Financial Enhancement Group LLC

Financial Enhancement Group LLC reduced its position in shares of Dover Co. (NYSE:DOV) by 3.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 33,200 shares of the industrial products company’s stock after selling 1,032 shares during the period. Financial Enhancement Group LLC’s holdings in Dover were worth $5,712,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in Dover during the 3rd quarter valued at $32,000. Headinvest LLC acquired a new stake in Dover during the 3rd quarter valued at $32,000. Exchange Traded Concepts LLC acquired a new stake in Dover during the 4th quarter valued at $33,000. AdvisorNet Financial Inc raised its stake in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the period. Finally, Life Planning Partners Inc acquired a new stake in Dover during the 4th quarter valued at $35,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 0.7 %

Dover stock traded down $1.25 during mid-day trading on Wednesday, hitting $178.81. 877,021 shares of the company’s stock were exchanged, compared to its average volume of 1,005,150. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.57 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.23 and a beta of 1.24. Dover Co. has a 1-year low of $127.25 and a 1-year high of $188.64. The stock has a 50 day moving average of $180.66 and a two-hundred day moving average of $168.03.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. As a group, analysts anticipate that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is 19.60%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOV. Oppenheimer boosted their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird upped their price target on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Citigroup upped their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Barclays upped their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.75.

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.