Nicolet Advisory Services LLC Acquires New Stake in Dover Co. (NYSE:DOV)

Nicolet Advisory Services LLC purchased a new stake in Dover Co. (NYSE:DOV – Free Report) during the first quarter, according to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). The company bought 1,270 shares of the industrial products company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also made changes to their positions in DOV. AdvisorNet Financial Inc increased its stake in 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 purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in 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 position in shares of Dover in the fourth quarter worth $36,000. Finally, North Star Investment Management Corp. increased 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, worth $44,000, after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds hold 84.46% of the shares.

Dover Stock Performance

Shares of Dover fell $2.73 during trading hours on Monday, to $180.97. There were 493,408 shares of the company traded, compared to its average volume of 994,499. The company has a 50-day moving average of $181.73 and a 200-day moving average of $171.66. Dover Co. has a one-year low of $127.25 and a one-year high of $192.31. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.87 billion, a price-to-earnings ratio of 17.28, a forward price-to-earnings ratio of 2.23 and a beta of 1.22.

Dover (NYSE:DOV – Get Free Report) last posted its earnings results on Thursday, April 25. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the company earned $1.94 EPS. The company’s revenue increased 0.7% year over year. As a group, analysts expect Dover Co. to post 9.1 EPS for the current fiscal year.

Dover announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.51 per share. This represents an annualized dividend of $2.04 and a yield of 1.13%. The ex-dividend date for this dividend was Friday, May 31st. Dover’s payout ratio is 19.60%.

Changes in analyst ratings

Several brokerages have issued reports on DOV. Robert W. Baird increased their price target on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Mizuho increased their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays increased their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a “hold” rating and seven have given it a “buy” rating. The company has a consensus rating of “Moderate Buy” and an average price target of $185.75, according to MarketBeat.com.

Check out our latest analysis on DOV

Dover Company Profile

(Free Report)

Dover Corporation is a global provider of equipment and components, consumables, aftermarket parts, software and digital solutions, and support services. The company’s Engineered Products segment provides diverse equipment, components, software, solutions and services used in the automotive aftermarket, waste management, industrial automation, aerospace and defense, industrial winches and hoists, and the fluid dispensing end market.

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