Global Trust Asset Management LLC Trims Stock Position in Dover Corporation (NYSE:DOV)

Global Trust Asset Management LLC trimmed its holdings in shares of Dover Corporation (NYSE:DOV) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 815 shares of the industrial products company’s stock after selling 100 shares during the period. Global Trust Asset Management LLC’s holdings in Dover were worth $143,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares in the last quarter. Orion Capital Management LLC acquired a new position in Dover in the 4th quarter valued at about $43,000. Mainstream Capital Management LLC purchased a new position in Dover in the 4th quarter valued at about $61,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Dover during the 4th quarter worth about $68,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Dover during the fourth quarter worth about $69,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

DOV stock opened at $176.02 on Wednesday. The firm has a market cap of $24.13 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a 50-day simple moving average of $174.25 and a 200-day simple moving average of $184.85.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. Dover’s payout ratio is currently 12.41%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DOV shares. Barclays upped their price objective on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Citigroup reduced their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. raised their price target on Dover from $190.00 to $211.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Robert W. Baird lowered their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Mizuho increased their target price on shares of Dover from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.58.

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.