Schonfeld Strategic Advisors LLC Has $19.98 Million Stake in Dover Co. (NYSE:DOV)

Schonfeld Strategic Advisors LLC lifted its stake in Dover Co. (NYSE:DOV) by 1,019.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,518 shares of the industrial products company’s stock after buying an additional 96,999 shares during the period. Schonfeld Strategic Advisors LLC owned about 0.08% of Dover worth $19,983,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Dover by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after acquiring an additional 74,541 shares during the last quarter. FMR LLC raised its stake in shares of Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock worth $585,010,000 after purchasing an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Dover by 31.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after acquiring an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Dover by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock worth $323,896,000 after purchasing an additional 245,535 shares during the period. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV opened at $170.03 on Wednesday. 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 firm’s 50-day simple moving average is $175.48 and its two-hundred day simple moving average is $189.43. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The stock has a market cap of $23.30 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.95 earnings per share. Analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is currently 12.41%.

Wall Street Analyst Weigh In

Several research firms have weighed in on DOV. 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. Morgan Stanley started coverage on shares of Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 target price on the stock. Wells Fargo & Company upped their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $176.00 target price on shares of Dover in a research report on Friday. Finally, Citigroup reduced their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

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.