Golden State Equity Partners Has $428,000 Stake in Dover Corporation (NYSE:DOV)

Golden State Equity Partners lowered its holdings in Dover Corporation (NYSE:DOV) by 11.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,439 shares of the industrial products company’s stock after selling 312 shares during the period. Golden State Equity Partners’ holdings in Dover were worth $428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares during the period. Orion Capital Management LLC bought a new position in shares of Dover in the fourth quarter worth $43,000. Mainstream Capital Management LLC acquired a new position in Dover in the fourth quarter valued at about $61,000. Ameriflex Group Inc. bought a new stake in Dover during the fourth quarter worth about $69,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Dover during the fourth quarter worth about $75,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $183.35 on Friday. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56. The business has a 50-day moving average of $176.44 and a 200-day moving average of $183.78.

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

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given 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 was Friday, May 30th. Dover’s dividend payout ratio (DPR) is 12.41%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DOV. Citigroup dropped their target price on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays boosted their price objective 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, Morgan Stanley started coverage on shares of Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 target price for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.58.

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.