Graham Capital Management L.P. Buys 21,369 Shares of Dover Co. (NYSE:DOV)

Graham Capital Management L.P. increased its stake in Dover Co. (NYSE:DOV) by 978.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,553 shares of the industrial products company’s stock after purchasing an additional 21,369 shares during the quarter. Graham Capital Management L.P.’s holdings in Dover were worth $4,419,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Dover during the 4th quarter worth $28,000. R Squared Ltd bought a new stake in Dover during the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its position in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of Dover in the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in Dover during the 4th quarter valued at approximately $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.8 %

Shares of DOV stock opened at $176.08 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $24.14 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.06 and a beta of 1.28. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a 50-day moving average price of $171.73 and a 200 day moving average price of $188.32.

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

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.17%. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Analysts Set New Price Targets

Several research analysts have commented on DOV shares. Robert W. Baird dropped their price target on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Wells Fargo & Company raised their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Citigroup lowered 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. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

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.