Tectonic Advisors LLC Acquires 274 Shares of Dover Corporation (NYSE:DOV)

Tectonic Advisors LLC boosted its stake in shares of Dover Corporation (NYSE:DOV) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,959 shares of the industrial products company’s stock after buying an additional 274 shares during the quarter. Tectonic Advisors LLC’s holdings in Dover were worth $520,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in Dover during the fourth quarter valued at about $316,228,000. GAMMA Investing LLC boosted its position in Dover by 35,832.0% during the first quarter. GAMMA Investing LLC now owns 563,054 shares of the industrial products company’s stock valued at $98,917,000 after buying an additional 561,487 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Dover during the fourth quarter valued at about $99,017,000. Adage Capital Partners GP L.L.C. boosted its position in 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 buying an additional 524,092 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Dover by 350.8% during the first quarter. Assenagon Asset Management S.A. now owns 410,350 shares of the industrial products company’s stock valued at $72,090,000 after buying an additional 319,319 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup restated a “buy” rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday. Barclays upped their price objective on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Dover from $190.00 to $211.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.58.

Dover Price Performance

Shares of NYSE DOV opened at $187.01 on Wednesday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a 50 day simple moving average of $181.42 and a two-hundred day simple moving average of $183.10. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.56 and a current ratio of 2.13.

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. Dover had a net margin of 28.85% and a return on equity of 19.54%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. Analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given 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 was Friday, May 30th. Dover’s dividend payout ratio (DPR) is currently 12.41%.

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.