Mainstream Capital Management LLC Invests $61,000 in Dover Co. (NYSE:DOV)

Mainstream Capital Management LLC bought a new position in shares of Dover Co. (NYSE:DOV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 323 shares of the industrial products company’s stock, valued at approximately $61,000.

Several other large investors also recently bought and sold shares of DOV. Proficio Capital Partners LLC purchased a new stake in Dover during the 4th quarter worth approximately $28,718,000. FMR LLC grew its position in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the last quarter. National Bank of Canada FI grew its position in Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after purchasing an additional 144,930 shares during the last quarter. Barclays PLC grew its position in Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after purchasing an additional 75,670 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings 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 valued at $17,077,000 after acquiring an additional 60,235 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Dover stock opened at $192.99 on Tuesday. Dover Co. has a 52-week low of $166.20 and a 52-week high of $222.31. The firm 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. The company has a fifty day simple moving average of $196.14 and a 200-day simple moving average of $193.61. 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 earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, equities analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on DOV. Royal Bank of Canada increased their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. UBS Group reduced their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. The Goldman Sachs Group raised their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Citigroup dropped their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $218.91.

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.