Tilia Fiduciary Partners Inc. Lowers Stock Position in Dover Co. (NYSE:DOV)

Tilia Fiduciary Partners Inc. decreased its position in Dover Co. (NYSE:DOV) by 35.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,341 shares of the industrial products company’s stock after selling 3,437 shares during the period. Tilia Fiduciary Partners Inc.’s holdings in Dover were worth $1,114,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DOV. Vanguard Group Inc. boosted its position in Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after buying an additional 74,541 shares in the last quarter. FMR LLC lifted its position in shares of Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after buying an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Dover by 16.6% in the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock worth $323,896,000 after acquiring an additional 245,535 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

NYSE DOV opened at $179.56 on Friday. The company has a market capitalization of $24.62 billion, a PE ratio of 9.23, a P/E/G ratio of 2.06 and a beta of 1.27. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a fifty day moving average of $171.50 and a two-hundred day moving average of $186.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm posted $1.95 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. Dover’s dividend payout ratio is presently 12.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Citigroup decreased their price objective on shares of Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Robert W. Baird lowered their target price on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Barclays raised their price target on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. Six 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 stock has a consensus rating of “Moderate Buy” and an average target price of $207.75.

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.