Financial Enhancement Group LLC Lowers Stock Holdings in Dover Co. (NYSE:DOV)

Financial Enhancement Group LLC lowered its holdings in Dover Co. (NYSE:DOV) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOV. Orion Capital Management LLC purchased a new stake in shares of Dover in the third quarter valued at $32,000. Headinvest LLC purchased a new stake in shares of Dover in the third quarter valued at $32,000. Exchange Traded Concepts LLC purchased a new stake in shares of Dover in the fourth quarter valued at $33,000. AdvisorNet Financial Inc grew its position 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 purchasing an additional 188 shares during the period. Finally, Life Planning Partners Inc purchased a new stake in shares of Dover in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.7 %

Shares of DOV traded down $1.25 during midday trading on Wednesday, reaching $178.81. 877,021 shares of the company were exchanged, compared to its average volume of 1,005,150. The stock has a 50-day moving average price of $180.66 and a 200-day moving average price of $168.03. The company has a market cap of $24.57 billion, a price-to-earnings 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 company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last released its quarterly 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. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. Research analysts expect that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Mizuho lifted their target price on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird lifted their target price on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, April 26th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Barclays lifted their target price on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Oppenheimer lifted their target price on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Dover Company 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.