Seneca House Advisors Invests $205,000 in Dover Co. (NYSE:DOV)

Seneca House Advisors acquired a new position in Dover Co. (NYSE:DOV) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,155 shares of the industrial products company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after buying an additional 492,577 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Dover by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after buying an additional 140,089 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in 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 worth $199,319,000 after buying an additional 879,533 shares during the period. Wellington Management Group LLP boosted its holdings in Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in Dover by 15.9% in the 4th quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after buying an additional 157,614 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 1.1 %

Shares of NYSE:DOV traded up $2.00 during trading on Friday, reaching $180.45. The company’s stock had a trading volume of 1,581,371 shares, compared to its average volume of 1,073,027. 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 12 month low of $127.25 and a 12 month high of $188.64. The firm’s 50 day simple moving average is $181.07 and its two-hundred day simple moving average is $168.66. The stock has a market capitalization of $24.80 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

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

Dover Dividend Announcement

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. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio (DPR) is currently 19.60%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DOV shares. Oppenheimer upped their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Barclays upped their target price on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Mizuho increased their price objective on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report 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, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Dover 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.