Park Place Capital Corp Sells 286 Shares of Dover Co. (NYSE:DOV)

Park Place Capital Corp reduced its position in shares of Dover Co. (NYSE:DOV) by 61.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 180 shares of the industrial products company’s stock after selling 286 shares during the quarter. Park Place Capital Corp’s holdings in Dover were worth $32,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position 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 buying an additional 188 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Dover in the fourth quarter worth $33,000. Life Planning Partners Inc bought a new stake in Dover in the fourth quarter worth $35,000. Orion Capital Management LLC bought a new stake in Dover in the third quarter worth $32,000. Finally, Headinvest LLC bought a new stake in Dover in the third quarter worth $32,000. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Shares of Dover stock opened at $176.96 on Wednesday. The firm has a market cap of $24.32 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. Dover Co. has a 12 month low of $127.25 and a 12 month high of $188.64. The stock’s fifty day moving average price is $181.30 and its 200-day moving average price is $168.99.

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 firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Friday, May 31st were paid 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 1.15%. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOV. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Barclays raised their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Citigroup increased their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Robert W. Baird increased their target price on Dover from $185.00 to $208.00 and gave the stock an “outperform” 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $185.75.

Dover 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.