Seneca House Advisors Makes New $205,000 Investment in Dover Co. (NYSE:DOV)

Seneca House Advisors acquired a new stake in Dover Co. (NYSE:DOV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,155 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DOV. Griffin Asset Management Inc. boosted its position in Dover by 3.1% in the 1st quarter. Griffin Asset Management Inc. now owns 52,750 shares of the industrial products company’s stock valued at $9,347,000 after buying an additional 1,606 shares during the period. Avity Investment Management Inc. boosted its holdings in Dover by 46.5% in the first quarter. Avity Investment Management Inc. now owns 2,993 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 950 shares during the period. Register Financial Advisors LLC purchased a new position in Dover in the first quarter valued at $82,000. Wealth Enhancement Advisory Services LLC grew its stake in Dover by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,085 shares of the industrial products company’s stock worth $2,319,000 after purchasing an additional 274 shares in the last quarter. Finally, Aspiriant LLC purchased a new stake in Dover during the 1st quarter worth about $201,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DOV shares. Wells Fargo & Company boosted their price objective on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Mizuho boosted their price target on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Citigroup raised their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Oppenheimer raised their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Stock Performance

Shares of DOV traded up $2.00 during midday trading on Friday, reaching $180.45. 1,581,371 shares of the stock were exchanged, compared to its average volume of 1,073,027. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. Dover Co. has a twelve month low of $127.25 and a twelve month high of $188.64. The business’s 50-day moving average price is $181.07 and its 200 day moving average price is $168.66. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.24 and a beta of 1.24.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. On average, sell-side analysts expect that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

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

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.