Flagship Harbor Advisors LLC Boosts Stock Holdings in Dover Corporation (NYSE:DOV)

Flagship Harbor Advisors LLC raised its holdings in Dover Corporation (NYSE:DOV) by 9.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,174 shares of the industrial products company’s stock after purchasing an additional 102 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Dover were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its holdings in Dover by 4.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,231 shares of the industrial products company’s stock worth $2,852,000 after acquiring an additional 695 shares during the period. North Point Portfolio Managers Corp OH boosted its position in shares of Dover by 0.4% during the 1st quarter. North Point Portfolio Managers Corp OH now owns 68,775 shares of the industrial products company’s stock worth $12,082,000 after purchasing an additional 289 shares in the last quarter. Heartland Bank & Trust Co acquired a new position in shares of Dover during the 1st quarter worth $739,000. Brendel Financial Advisors LLC increased its holdings in shares of Dover by 0.6% in the 1st quarter. Brendel Financial Advisors LLC now owns 22,222 shares of the industrial products company’s stock valued at $3,904,000 after purchasing an additional 135 shares in the last quarter. Finally, Rockline Wealth Management LLC lifted its stake in shares of Dover by 3.6% in the first quarter. Rockline Wealth Management LLC now owns 21,766 shares of the industrial products company’s stock valued at $3,824,000 after purchasing an additional 760 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DOV shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $176.00 target price on shares of Dover in a report on Friday, April 25th. Citigroup dropped their price objective on Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. boosted their target price on Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Morgan Stanley started coverage on Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 target price on the stock. Finally, Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $208.58.

Dover Trading Up 1.8%

Dover stock opened at $183.35 on Friday. The stock has a 50-day moving average price of $176.44 and a 200 day moving average price of $183.78. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market cap of $25.14 billion, a PE ratio of 11.05, a P/E/G ratio of 1.73 and a beta of 1.27. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 28.85% and a return on equity of 19.54%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.95 earnings per share. Equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 30th. Dover’s dividend payout ratio (DPR) is 12.41%.

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.