IHT Wealth Management LLC Trims Holdings in Dover Co. (NYSE:DOV)

IHT Wealth Management LLC lowered its position in shares of Dover Co. (NYSE:DOV) by 6.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,996 shares of the industrial products company’s stock after selling 223 shares during the period. IHT Wealth Management LLC’s holdings in Dover were worth $562,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of Dover during the 4th quarter valued at $28,000. R Squared Ltd purchased a new position in shares of Dover in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $37,000 after acquiring an additional 87 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Dover during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in Dover during the 4th quarter valued at approximately $46,000. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Dover in a report on Friday. Citigroup dropped their price objective on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a report on Monday, April 14th. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $209.50.

Dover Trading Down 0.3 %

DOV stock opened at $169.18 on Friday. The firm’s fifty day simple moving average is $176.90 and its two-hundred day simple moving average is $189.66. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share 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 company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. As a group, analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

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.