Ameriflex Group Inc. Purchases New Position in Dover Co. (NYSE:DOV)

Ameriflex Group Inc. bought a new position in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 339 shares of the industrial products company’s stock, valued at approximately $69,000.

A number of other large investors have also recently added to or reduced their stakes in DOV. Financial Life Planners bought a new stake in Dover during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new stake in Dover during the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC boosted its position in Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 87 shares during the period. Orion Capital Management LLC bought a new stake in Dover during the fourth quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC bought a new stake in Dover during the fourth quarter worth approximately $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE DOV opened at $181.41 on Wednesday. The business has a fifty day simple moving average of $171.79 and a 200 day simple moving average of $187.44. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $24.87 billion, a price-to-earnings ratio of 9.33, 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 issued its 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 business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. Dover’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.95 earnings per share. Sell-side analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid 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 1.14%. Dover’s dividend payout ratio is currently 12.41%.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Robert W. Baird cut their price target on Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Wells Fargo & Company upped their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. UBS Group cut 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. Finally, Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $207.75.

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.