Obermeyer Wealth Partners Sells 4,705 Shares of Dover Co. (NYSE:DOV)

Obermeyer Wealth Partners reduced its position in Dover Co. (NYSE:DOV) by 80.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,168 shares of the industrial products company’s stock after selling 4,705 shares during the quarter. Obermeyer Wealth Partners’ holdings in Dover were worth $219,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DOV. Ecofi Investissements SA boosted its holdings in Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after purchasing an additional 50 shares during the period. Spire Wealth Management boosted its stake in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after buying an additional 52 shares during the period. Trust Point Inc. boosted its stake in Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after buying an additional 59 shares during the period. JGP Wealth Management LLC grew its position in Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after buying an additional 62 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Dover by 1.4% in the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company’s stock worth $923,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on DOV. UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target for the company. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Wells Fargo & Company increased their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Six equities 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 stock has an average rating of “Moderate Buy” and an average price target of $206.33.

Dover Stock Performance

NYSE:DOV opened at $185.62 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The business has a 50 day moving average price of $171.60 and a 200-day moving average price of $188.28. The firm has a market cap of $25.45 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 earnings per share. Equities research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.11%. Dover’s dividend payout ratio (DPR) is presently 12.41%.

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.