Ayrshire Capital Management LLC Makes New $3 Million Investment in Dover Co. (NYSE:DOV)

Ayrshire Capital Management LLC purchased a new stake in shares of Dover Co. (NYSE:DOV – Get Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 19,726 shares of the industrial products company’s stock, valued at approximately $2,997,000. Dover comprises approximately 2.0% of Ayrshire Capital Management LLC’s portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of DOV. U.S. Capital Wealth Advisors LLC bought a new stake in Dover during the fourth quarter valued at approximately $29,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of Dover during the 4th quarter worth $31,000. Concord Wealth Partners bought a new stake in shares of Dover during the 4th quarter worth $41,000. Fairfield Bush & CO. bought a new stake in shares of Dover during the 1st quarter worth $48,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Dover by 57.7% during the 4th quarter. Crewe Advisors LLC now owns 399 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 83.77% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 17,769 shares of Dover stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $139.03, for a total transaction of $2,470,424.07. Following the completion of the transaction, the chief financial officer now directly owns 54,569 shares of the company’s stock, valued at approximately $7,586,728.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DOV. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Dover from $147.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, April 12th. Credit Suisse Group reiterated an “outperform” rating and set a $174.00 price target on shares of Dover in a research report on Thursday, March 9th. Robert W. Baird reduced their price target on shares of Dover from $176.00 to $170.00 in a research report on Wednesday, April 26th. Barclays reduced their price target on shares of Dover from $141.00 to $138.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 6th. Finally, Oppenheimer increased their price target on shares of Dover from $167.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, March 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.31.

Dover Trading Down 0.2 %

DOV stock traded down $0.30 on Thursday, reaching $143.95. The company’s stock had a trading volume of 52,620 shares, compared to its average volume of 850,468. The business has a fifty day simple moving average of $142.42 and a two-hundred day simple moving average of $143.69. Dover Co. has a 12-month low of $114.49 and a 12-month high of $160.66. The firm has a market cap of $20.13 billion, a PE ratio of 19.23, a PEG ratio of 1.17 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 1.32.

Dover (NYSE:DOV – Get Rating) last posted its earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.94. Dover had a return on equity of 28.27% and a net margin of 12.51%. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts forecast that Dover Co. will post 9 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were issued a dividend of $0.505 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.40%. Dover’s dividend payout ratio (DPR) is 26.93%.

About Dover

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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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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