Inceptionr LLC Acquires New Position in Dover Co. (NYSE:DOV)

Inceptionr LLC acquired a new stake in shares of Dover Co. (NYSE:DOV) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,134 shares of the industrial products company’s stock, valued at approximately $588,000.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners bought a new position in shares of Dover during the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Dover during the 3rd quarter valued at approximately $33,000. R Squared Ltd purchased a new position in Dover in the 4th quarter worth approximately $34,000. Kieckhefer Group LLC purchased a new position in Dover in the 4th quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new position in Dover in the 4th quarter worth approximately $46,000. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. The Goldman Sachs Group boosted their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Barclays upped their price objective on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

NYSE:DOV opened at $185.46 on Friday. The stock’s fifty day moving average is $195.90 and its 200 day moving average is $193.56. Dover Co. has a fifty-two week low of $168.20 and a fifty-two week high of $222.31. The firm has a market capitalization of $25.45 billion, a PE ratio of 9.54, a PEG 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.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate 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 earnings per share for the current year.

Dover Announces Dividend

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