9,348 Shares in Dover Co. (NYSE:DOV) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP purchased a new position in Dover Co. (NYSE:DOV) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 9,348 shares of the industrial products company’s stock, valued at approximately $1,754,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 worth $618,068,000 after purchasing an additional 74,541 shares during the last quarter. FMR LLC grew its holdings in Dover by 1.1% in the fourth 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 during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings 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 worth $409,530,000 after purchasing an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of 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 buying an additional 245,535 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup decreased their target price on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective for the company. Robert W. Baird dropped their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Barclays boosted their target price on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Six research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $206.33.

Dover Trading Up 4.1%

Shares of Dover stock opened at $183.36 on Tuesday. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. 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’s 50-day simple moving average is $171.60 and its 200-day simple moving average is $188.30. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

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

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is currently 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.