Grandfield & Dodd LLC Lowers Stake in Dover Co. (NYSE:DOV)

Grandfield & Dodd LLC lessened its holdings in Dover Co. (NYSE:DOV) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 24,988 shares of the industrial products company’s stock after selling 458 shares during the quarter. Grandfield & Dodd LLC’s holdings in Dover were worth $4,428,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its holdings in shares of Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Dover in the fourth quarter valued at about $33,000. Life Planning Partners Inc purchased a new stake in shares of Dover in the fourth quarter valued at about $35,000. Headinvest LLC purchased a new stake in shares of Dover in the third quarter valued at about $32,000. Finally, Northwest Financial Advisors acquired a new position in shares of Dover in the fourth quarter valued at approximately $36,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent research reports. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Barclays raised their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Oppenheimer raised their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Robert W. Baird raised their price target on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average target price of $185.75.

Dover Stock Up 2.0 %

DOV stock traded up $3.54 during mid-day trading on Thursday, hitting $182.10. 759,585 shares of the company were exchanged, compared to its average volume of 997,323. The company has a market capitalization of $25.03 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.14 and a beta of 1.22. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. Dover Co. has a twelve month low of $127.25 and a twelve month high of $188.64. The firm has a fifty day simple moving average of $181.25 and a 200 day simple moving average of $169.98.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.12%. Dover’s dividend payout ratio is presently 19.60%.

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.