Silvercrest Asset Management Group LLC Acquires 63,629 Shares of Dover Co. (NYSE:DOV)

Silvercrest Asset Management Group LLC boosted its holdings in Dover Co. (NYSE:DOV) by 448.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,810 shares of the industrial products company’s stock after buying an additional 63,629 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.06% of Dover worth $14,597,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Dover during the fourth quarter valued at approximately $316,228,000. Balyasny Asset Management L.P. bought a new stake in shares of Dover during the fourth quarter valued at approximately $99,017,000. Adage Capital Partners GP L.L.C. increased its position in shares of Dover by 31.6% during 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 purchasing an additional 524,092 shares during the period. Northern Trust Corp increased its position 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 valued at $323,896,000 after purchasing an additional 245,535 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Dover during the fourth quarter valued at approximately $40,350,000. 84.46% of the stock is owned by institutional investors.

Dover Trading Up 1.2%

Shares of DOV opened at $186.64 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. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a market capitalization of $25.59 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The stock’s fifty day simple moving average is $171.82 and its 200-day simple moving average is $188.13.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.88 billion. During the same quarter in the prior year, the firm posted $1.95 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DOV shares. Royal Bank of Canada restated a “sector perform” rating and set a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. Robert W. Baird lowered 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. Barclays upped their price target on Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.17.

Dover Company 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.