Etesian Wealth Advisors Inc. Decreases Holdings in Dover Co. (NYSE:DOV)

Etesian Wealth Advisors Inc. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,955 shares of the industrial products company’s stock after selling 346 shares during the period. Dover accounts for about 1.1% of Etesian Wealth Advisors Inc.’s holdings, making the stock its 25th biggest holding. Etesian Wealth Advisors Inc.’s holdings in Dover were worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Dover in the 4th quarter valued at about $175,275,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Dover by 2,173.8% in the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Dover by 469.4% in the 4th quarter. Teacher Retirement System of Texas now owns 252,768 shares of the industrial products company’s stock valued at $38,878,000 after purchasing an additional 208,378 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

NYSE DOV traded down $1.33 on Wednesday, hitting $178.73. The stock had a trading volume of 338,465 shares, compared to its average volume of 1,000,773. Dover Co. has a one year low of $127.25 and a one year high of $188.64. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.56 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.23 and a beta of 1.24. The company’s 50-day moving average is $180.47 and its two-hundred day moving average is $167.96.

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

Dover Announces Dividend

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

Analysts Set New Price Targets

DOV has been the topic of several research reports. Wells Fargo & Company increased their price objective 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. Oppenheimer increased their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Mizuho increased their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Barclays increased their price objective 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $185.75.

About Dover

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.