Park Avenue Securities LLC Purchases 570 Shares of Dover Co. (NYSE:DOV)

Park Avenue Securities LLC grew its holdings in Dover Co. (NYSE:DOV) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,762 shares of the industrial products company’s stock after acquiring an additional 570 shares during the quarter. Park Avenue Securities LLC’s holdings in Dover were worth $1,539,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DOV. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% during the 4th 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 during the period. Orion Capital Management LLC acquired a new position in Dover in the fourth quarter valued at about $43,000. Golden State Wealth Management LLC bought a new stake in Dover during the fourth quarter worth about $46,000. Mainstream Capital Management LLC bought a new stake in Dover during the fourth quarter worth about $61,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Dover during the fourth quarter worth about $68,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Dover in a report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Citigroup decreased 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. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. raised their price objective on Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $207.75.

Dover Stock Performance

Shares of DOV stock opened at $178.96 on Thursday. The firm has a market capitalization of $24.54 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 2.06 and a beta of 1.27. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $172.41 and its 200-day moving average price is $185.78. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s payout ratio is presently 12.41%.

Dover 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.