Inceptionr LLC Acquires Shares of 3,134 Dover Co. (NYSE:DOV)

Inceptionr LLC acquired a new stake in shares of Dover Co. (NYSE:DOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,134 shares of the industrial products company’s stock, valued at approximately $588,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versor Investments LP purchased a new position in Dover during the third quarter valued at $1,920,000. Wolverine Asset Management LLC raised its position in shares of Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 5,500 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DOV. Barclays lifted their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group lowered their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Citigroup reduced their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Trading Down 0.3 %

Dover stock opened at $185.46 on Friday. The business has a 50-day simple moving average of $195.90 and a two-hundred day simple moving average of $193.56. The company has a market cap of $25.45 billion, a P/E ratio of 9.54, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $168.20 and a 52-week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. Dover’s dividend 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.