SRN Advisors LLC Buys Shares of 1,213 Dover Co. (NYSE:DOV)

SRN Advisors LLC purchased a new position in Dover Co. (NYSE:DOV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,213 shares of the industrial products company’s stock, valued at approximately $228,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its position in Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after acquiring an additional 25,993 shares during the last quarter. FMR LLC boosted its stake in Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after purchasing an additional 17,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Dover by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock worth $155,566,000 after purchasing an additional 9,464 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company boosted their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Barclays increased their target price on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Trading Down 0.4 %

DOV stock opened at $197.49 on Thursday. The business’s 50-day moving average is $195.71 and its 200 day moving average is $193.08. Dover Co. has a 12-month low of $163.32 and a 12-month high of $222.31. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, sell-side analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

About Dover

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.