Dover Co. (NYSE:DOV) Stock Position Lifted by HFR Wealth Management LLC

HFR Wealth Management LLC boosted its stake in shares of Dover Co. (NYSE:DOV) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,578 shares of the industrial products company’s stock after purchasing an additional 169 shares during the period. Dover comprises approximately 2.9% of HFR Wealth Management LLC’s holdings, making the stock its 17th largest position. HFR Wealth Management LLC’s holdings in Dover were worth $11,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Farther Finance Advisors LLC grew its position in Dover by 39.7% during the third quarter. Farther Finance Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 195 shares in the last quarter. Van ECK Associates Corp grew its position in Dover by 11.0% during the third quarter. Van ECK Associates Corp now owns 23,375 shares of the industrial products company’s stock valued at $4,481,000 after purchasing an additional 2,317 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Dover by 89.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 16,346 shares of the industrial products company’s stock valued at $3,134,000 after acquiring an additional 7,704 shares during the last quarter. National Pension Service lifted its stake in Dover by 3.0% in the third quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock valued at $41,418,000 after acquiring an additional 6,241 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Dover by 75.0% in the third quarter. QRG Capital Management Inc. now owns 54,725 shares of the industrial products company’s stock valued at $10,493,000 after acquiring an additional 23,451 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DOV. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Wells Fargo & Company lifted 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 lifted their target price on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, UBS Group reduced their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Price Performance

Shares of Dover stock opened at $192.99 on Tuesday. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 1-year low of $166.20 and a 1-year high of $222.31. The firm has a fifty day simple moving average of $196.14 and a 200-day simple moving average of $193.61. 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 released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is currently 10.59%.

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.