Summit Financial LLC Purchases 1,094 Shares of Dover Co. (NYSE:DOV)

Summit Financial LLC boosted its position in Dover Co. (NYSE:DOV) by 20.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,539 shares of the industrial products company’s stock after acquiring an additional 1,094 shares during the period. Summit Financial LLC’s holdings in Dover were worth $1,227,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Spire Wealth Management lifted its stake in shares of Dover by 2.1% during the 4th 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 in the last quarter. ORG Partners LLC raised its holdings in Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 58 shares during the period. Trust Point Inc. lifted its position in shares of Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 59 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in shares of Dover by 0.8% in the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after acquiring an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Dover by 3.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 70 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 0.4 %

DOV stock opened at $176.32 on Wednesday. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The company has a market capitalization of $24.17 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company’s 50 day moving average price is $192.80 and its two-hundred day moving average price is $193.58. 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 (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is 10.59%.

Analyst Ratings Changes

Several brokerages have commented on DOV. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. UBS Group reduced their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. The Goldman Sachs Group boosted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Citigroup lowered their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $218.18.

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.