TIAA Trust National Association Has $1.21 Million Stake in Dover Co. (NYSE:DOV)

TIAA Trust National Association boosted its stake in Dover Co. (NYSE:DOV) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,847 shares of the industrial products company’s stock after buying an additional 890 shares during the quarter. TIAA Trust National Association’s holdings in Dover were worth $1,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in Dover in the fourth quarter valued at about $33,000. AdvisorNet Financial Inc grew its stake in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after buying an additional 188 shares in the last quarter. Life Planning Partners Inc acquired a new position in Dover in the fourth quarter worth approximately $35,000. Northwest Financial Advisors acquired a new stake in Dover in the fourth quarter valued at approximately $36,000. Finally, North Star Investment Management Corp. grew its position in Dover by 93.0% in the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 120 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DOV shares. Wells Fargo & Company lifted their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho upped their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday. Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Oppenheimer lifted their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. 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 Stock Performance

Dover stock traded down $2.60 during mid-day trading on Monday, reaching $181.10. The company had a trading volume of 782,158 shares, compared to its average volume of 996,577. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $181.73 and a 200-day moving average of $171.66. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31. The firm has a market cap of $24.89 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.23 and a beta of 1.22.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. Dover’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. On average, sell-side analysts expect that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio is currently 19.60%.

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.