Aigen Investment Management LP Increases Holdings in Dover Co. (NYSE:DOV)

Aigen Investment Management LP raised its stake in shares of Dover Co. (NYSE:DOV) by 233.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,259 shares of the industrial products company’s stock after buying an additional 3,681 shares during the period. Aigen Investment Management LP’s holdings in Dover were worth $987,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in Dover during the 4th quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover during the 3rd quarter valued at $33,000. R Squared Ltd purchased a new stake in Dover during the 4th quarter valued at $34,000. Kieckhefer Group LLC purchased a new stake in Dover during the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover during the 4th quarter valued at $46,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DOV shares. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group reduced their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays upped their price objective on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating 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 company’s stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Trading Up 3.2 %

Shares of Dover stock opened at $189.91 on Thursday. The company has a market capitalization of $26.06 billion, a P/E ratio of 9.76, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company has a fifty day moving average of $196.00 and a 200 day moving average of $193.61. Dover Co. has a fifty-two week low of $167.87 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting 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 anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 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.