FORA Capital LLC Takes Position in Dover Co. (NYSE:DOV)

FORA Capital LLC bought a new stake in shares of Dover Co. (NYSE:DOV) in the 4th quarter, Holdings Channel.com reports. The firm bought 10,598 shares of the industrial products company’s stock, valued at approximately $1,988,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ecofi Investissements SA raised its holdings in Dover by 1.1% during the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company’s stock valued at $765,000 after buying an additional 50 shares during the last quarter. Spire Wealth Management raised its stake in shares of Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares during the last quarter. ORG Partners LLC grew its stake in shares of Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares during the last quarter. Trust Point Inc. increased its holdings in Dover by 3.1% during the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares during the period. Finally, JGP Wealth Management LLC lifted its holdings in Dover by 0.8% in the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after buying an additional 62 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup cut their price target on shares of Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays lifted their price objective on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Robert W. Baird dropped their target price on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.33.

Dover Price Performance

NYSE DOV opened at $174.71 on Friday. The stock has a 50-day moving average of $171.90 and a 200 day moving average of $188.43. 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 company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.28. Dover Co. has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 EPS. On average, sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.18%. Dover’s dividend payout ratio (DPR) is 12.41%.

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.