Ethic Inc. Increases Stock Position in Dover Co. (NYSE:DOV)

Ethic Inc. boosted its stake in shares of Dover Co. (NYSE:DOVGet Rating) by 33.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,555 shares of the industrial products company’s stock after buying an additional 3,626 shares during the quarter. Ethic Inc.’s holdings in Dover were worth $2,284,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Life Planning Partners Inc purchased a new position in shares of Dover in the fourth quarter valued at approximately $41,000. FinTrust Capital Advisors LLC purchased a new position in Dover in the first quarter worth approximately $44,000. Fairfield Bush & CO. purchased a new position in Dover in the first quarter worth approximately $48,000. Standard Family Office LLC purchased a new position in Dover in the first quarter worth approximately $50,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Dover in the first quarter worth approximately $53,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $129.47 on Monday. The firm’s fifty day simple moving average is $129.40 and its 200-day simple moving average is $136.76. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 1.09 and a beta of 1.39. Dover Co. has a 12 month low of $116.66 and a 12 month high of $184.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.41 and a quick ratio of 0.87.

Dover (NYSE:DOVGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The industrial products company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. Dover had a net margin of 13.90% and a return on equity of 26.94%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the firm posted $2.06 EPS. Dover’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Dover Co. will post 8.5 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.505 per share. This is a positive change from Dover’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, August 30th. Dover’s payout ratio is presently 25.70%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DOV. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Mizuho decreased their price target on shares of Dover from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Wells Fargo & Company raised their price objective on shares of Dover to $135.00 in a report on Friday, July 22nd. The Goldman Sachs Group cut their price objective on shares of Dover from $176.00 to $146.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Finally, Barclays cut their price objective on shares of Dover from $140.00 to $128.00 and set an “equal weight” rating on the stock in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $161.17.

About Dover

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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