Interval Partners LP Acquires 531 Shares of Dover Co. (NYSE:DOV)

Interval Partners LP increased its position in shares of Dover Co. (NYSE:DOVGet Rating) by 0.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,507 shares of the industrial products company’s stock after buying an additional 531 shares during the period. Dover accounts for 0.9% of Interval Partners LP’s holdings, making the stock its 26th biggest holding. Interval Partners LP owned about 0.08% of Dover worth $17,652,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Life Planning Partners Inc bought a new position in Dover during the fourth quarter worth $41,000. FinTrust Capital Advisors LLC bought a new position in Dover during the first quarter worth $44,000. Fairfield Bush & CO. bought a new position in Dover during the first quarter worth $48,000. Hazlett Burt & Watson Inc. bought a new position in Dover during the first quarter worth $53,000. Finally, Jones Financial Companies Lllp raised its stake in Dover by 41.1% during the first quarter. Jones Financial Companies Lllp now owns 347 shares of the industrial products company’s stock worth $54,000 after buying an additional 101 shares during the last quarter. Institutional investors own 83.96% of the company’s stock.

Dover Trading Up 1.3 %

Shares of DOV opened at $129.47 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.41 and a debt-to-equity ratio of 0.67. Dover Co. has a twelve month low of $116.66 and a twelve month high of $184.04. The stock has a market capitalization of $18.59 billion, a P/E ratio of 16.47, a PEG ratio of 1.09 and a beta of 1.39. The firm has a fifty day simple moving average of $129.40 and a two-hundred day simple moving average of $137.01.

Dover (NYSE:DOVGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $2.06 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Dover Co. will post 8.5 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $0.505 dividend. The ex-dividend date is Tuesday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a yield of 1.56%. Dover’s dividend payout ratio is 25.70%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DOV shares. Wells Fargo & Company lifted their price target on shares of Dover to $135.00 in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Dover from $135.00 to $132.00 in a research note on Friday, July 22nd. Barclays decreased their price target on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. Mizuho decreased their price target on shares of Dover from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Finally, The Goldman Sachs Group reduced their price objective on shares of Dover from $176.00 to $146.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.17.

About Dover

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The 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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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