First Western Trust Bank Buys New Position in Dover Co. (NYSE:DOV)

First Western Trust Bank purchased a new position in shares of Dover Co. (NYSE:DOV) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,208 shares of the industrial products company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently modified their holdings of DOV. LRI Investments LLC purchased a new stake in Dover in the first quarter worth about $28,000. AdvisorNet Financial Inc grew its stake in shares of Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the period. Transcendent Capital Group LLC increased its holdings in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares in the last quarter. Northwest Financial Advisors bought a new stake in Dover during the 4th quarter worth approximately $36,000. Finally, North Star Investment Management Corp. lifted its holdings in Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 2.8 %

Shares of DOV stock traded down $5.11 on Thursday, reaching $179.15. 897,297 shares of the company’s stock were exchanged, compared to its average volume of 1,016,321. The company’s fifty day simple moving average is $181.41 and its 200 day simple moving average is $173.47. The stock has a market capitalization of $24.62 billion, a PE ratio of 17.69, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 earnings per share. As a group, analysts forecast that Dover Co. will post 9.15 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Analyst Upgrades and Downgrades

DOV has been the topic of several recent analyst reports. Oppenheimer raised their price objective 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. Royal Bank of Canada upped their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Barclays lifted their price objective on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

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.