Envestnet Portfolio Solutions Inc. Sells 5,819 Shares of Dover Corporation (NYSE:DOV)

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Dover Corporation (NYSE:DOV) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,478 shares of the industrial products company’s stock after selling 5,819 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Dover were worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 87 shares during the last quarter. Orion Capital Management LLC bought a new stake in Dover in the 4th quarter worth $43,000. Mainstream Capital Management LLC purchased a new position in shares of Dover in the fourth quarter valued at about $61,000. Ameriflex Group Inc. bought a new position in shares of Dover during the fourth quarter valued at about $69,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Dover during the fourth quarter worth about $75,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup reduced their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays raised their price target on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Robert W. Baird cut their price target on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Morgan Stanley initiated coverage on shares of Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average price target of $208.58.

Dover Stock Down 0.5%

Shares of Dover stock opened at $174.74 on Monday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 1.68 and a beta of 1.27. The company has a 50-day moving average of $175.00 and a 200 day moving average of $184.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.13 and a quick ratio of 1.56.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a net margin of 28.85% and a return on equity of 19.54%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, May 30th. Dover’s payout ratio is 12.41%.

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.