UniSuper Management Pty Ltd Grows Holdings in Dover Co. (NYSE:DOV)

UniSuper Management Pty Ltd increased its position in shares of Dover Co. (NYSE:DOV) by 389.1% during the 1st quarter, Holdings Channel reports. The firm owned 7,156 shares of the industrial products company’s stock after purchasing an additional 5,693 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Dover were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOV. AdvisorNet Financial Inc boosted its holdings in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the last quarter. Life Planning Partners Inc purchased a new position in Dover during the fourth quarter worth about $35,000. Northwest Financial Advisors purchased a new position in Dover during the fourth quarter worth about $36,000. North Star Investment Management Corp. boosted its holdings in Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the last quarter. Finally, Tobam boosted its stake in Dover by 2,164.3% in the fourth quarter. Tobam now owns 317 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 303 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DOV shares. Oppenheimer boosted their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Mizuho boosted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Citigroup boosted their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $185.75.

Dover Price Performance

Shares of NYSE:DOV traded down $0.78 during trading on Tuesday, reaching $180.37. The company had a trading volume of 1,081,440 shares, compared to its average volume of 1,002,007. The company has a fifty day moving average of $181.60 and a two-hundred day moving average of $172.12. The stock has a market capitalization of $24.79 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.22. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. Equities research analysts forecast that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s dividend payout ratio (DPR) is 19.60%.

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.