Dover Co. (NYSE:DOV) Shares Acquired by Patten & Patten Inc. TN

Patten & Patten Inc. TN increased its stake in Dover Co. (NYSE:DOV) by 33.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,954 shares of the industrial products company’s stock after buying an additional 1,000 shares during the period. Patten & Patten Inc. TN’s holdings in Dover were worth $701,000 at the end of the most recent quarter.

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

Dover Stock Performance

Shares of NYSE DOV traded down $2.55 during midday trading on Monday, reaching $181.15. 1,394,919 shares of the company traded hands, compared to its average volume of 1,001,141. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31. The stock has a 50-day moving average price of $181.73 and a 200 day moving average price of $171.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The company has a market cap of $24.90 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 announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. Sell-side analysts anticipate that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on DOV shares. Barclays raised their price target on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Oppenheimer raised their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note 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’s stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $185.75.

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.